CINXE.COM

<!DOCTYPE html> <html lang="en" xmlns:fb="http://www.facebook.com/2008/fbml" class="wf-loading"> <head prefix="og: https://ogp.me/ns# fb: https://ogp.me/ns/fb# academia: https://ogp.me/ns/fb/academia#"> <meta charset="utf-8"> <meta name=viewport content="width=device-width, initial-scale=1"> <meta rel="search" type="application/opensearchdescription+xml" href="/open_search.xml" title="Academia.edu"> <title>Kabir Hassan | University of New Orleans - Academia.edu</title>  <link href="//a.academia-assets.com/images/favicons/favicon-production.ico" rel="shortcut icon" type="image/vnd.microsoft.icon"> <link rel="apple-touch-icon" sizes="57x57" href="//a.academia-assets.com/images/favicons/apple-touch-icon-57x57.png"> <link rel="apple-touch-icon" sizes="60x60" href="//a.academia-assets.com/images/favicons/apple-touch-icon-60x60.png"> <link rel="apple-touch-icon" sizes="72x72" href="//a.academia-assets.com/images/favicons/apple-touch-icon-72x72.png"> <link rel="apple-touch-icon" sizes="76x76" href="//a.academia-assets.com/images/favicons/apple-touch-icon-76x76.png"> <link rel="apple-touch-icon" sizes="114x114" href="//a.academia-assets.com/images/favicons/apple-touch-icon-114x114.png"> <link rel="apple-touch-icon" sizes="120x120" href="//a.academia-assets.com/images/favicons/apple-touch-icon-120x120.png"> <link rel="apple-touch-icon" sizes="144x144" href="//a.academia-assets.com/images/favicons/apple-touch-icon-144x144.png"> <link rel="apple-touch-icon" sizes="152x152" href="//a.academia-assets.com/images/favicons/apple-touch-icon-152x152.png"> <link rel="apple-touch-icon" sizes="180x180" href="//a.academia-assets.com/images/favicons/apple-touch-icon-180x180.png"> <link rel="icon" type="image/png" href="//a.academia-assets.com/images/favicons/favicon-32x32.png" sizes="32x32"> <link rel="icon" type="image/png" href="//a.academia-assets.com/images/favicons/favicon-194x194.png" sizes="194x194"> <link rel="icon" type="image/png" href="//a.academia-assets.com/images/favicons/favicon-96x96.png" sizes="96x96"> <link rel="icon" type="image/png" href="//a.academia-assets.com/images/favicons/android-chrome-192x192.png" sizes="192x192"> <link rel="icon" type="image/png" href="//a.academia-assets.com/images/favicons/favicon-16x16.png" sizes="16x16"> <link rel="manifest" href="//a.academia-assets.com/images/favicons/manifest.json"> <meta name="msapplication-TileColor" content="#2b5797"> <meta name="msapplication-TileImage" content="//a.academia-assets.com/images/favicons/mstile-144x144.png"> <meta name="theme-color" content="#ffffff"> <script> window.performance && window.performance.measure && window.performance.measure("Time To First Byte", "requestStart", "responseStart"); </script> <script> (function() { if (!window.URLSearchParams || !window.history || !window.history.replaceState) { return; } var searchParams = new URLSearchParams(window.location.search); var paramsToDelete = [ 'fs', 'sm', 'swp', 'iid', 'nbs', 'rcc', // related content category 'rcpos', // related content carousel position 'rcpg', // related carousel page 'rchid', // related content hit id 'f_ri', // research interest id, for SEO tracking 'f_fri', // featured research interest, for SEO tracking (param key without value) 'f_rid', // from research interest directory for SEO tracking 'f_loswp', // from research interest pills on LOSWP sidebar for SEO tracking 'rhid', // referrring hit id ]; if (paramsToDelete.every((key) => searchParams.get(key) === null)) { return; } paramsToDelete.forEach((key) => { searchParams.delete(key); }); var cleanUrl = new URL(window.location.href); cleanUrl.search = searchParams.toString(); history.replaceState({}, document.title, cleanUrl); })(); </script> <script async src="https://www.googletagmanager.com/gtag/js?id=G-5VKX33P2DS"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-5VKX33P2DS', { cookie_domain: 'academia.edu', send_page_view: false, }); gtag('event', 'page_view', { 'controller': "profiles/works", 'action': "summary", 'controller_action': 'profiles/works#summary', 'logged_in': 'false', 'edge': 'unknown', // Send nil if there is no A/B test bucket, in case some records get logged // with missing data - that way we can distinguish between the two cases. // ab_test_bucket should be of the form <ab_test_name>:<bucket> 'ab_test_bucket': null, }) </script> <script type="text/javascript"> window.sendUserTiming = function(timingName) { if (!(window.performance && window.performance.measure)) return; var entries = window.performance.getEntriesByName(timingName, "measure"); if (entries.length !== 1) return; var timingValue = Math.round(entries[0].duration); gtag('event', 'timing_complete', { name: timingName, value: timingValue, event_category: 'User-centric', }); }; window.sendUserTiming("Time To First Byte"); </script> <meta name="csrf-param" content="authenticity_token" /> <meta name="csrf-token" content="Q4pDc6sgEoNLPRxA97Jq7_brPOu_lX0kl3mVu8G8awZiYoNOApqoI5jo4PmTCbSChhXJVk8ZD9s1K4-afS1Xvg" /> <link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/wow-3d36c19b4875b226bfed0fcba1dcea3f2fe61148383d97c0465c016b8c969290.css" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/social/home-79e78ce59bef0a338eb6540ec3d93b4a7952115b56c57f1760943128f4544d42.css" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/single_work_page/figure_carousel-2004283e0948681916eefa74772df54f56cb5c7413d82b160212231c2f474bb3.css" /><script type="application/ld+json">{"@context":"https://schema.org","@type":"ProfilePage","mainEntity":{"@context":"https://schema.org","@type":"Person","name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","image":"https://0.academia-photos.com/169217/30307515/71227940/s200_kabir.hassan.jpg","sameAs":[]},"dateCreated":"2010-04-13T03:54:31-07:00","dateModified":"2025-03-26T14:00:56-07:00","name":"Kabir Hassan","description":"Professor Dr. M. Kabir Hassan is a financial economist with consulting, research and teaching experiences in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics and international trade and finance. He provided consulting services to the World Bank (WB), International Monetary Fund (IMF), Islamic Development Bank (IDB), African Development Bank (AfDB), USAID, Government of Bangladesh, Organization of Islamic Conferences (OIC), Federal Reserve Bank, USA, and many corporations, private organizations and universities around the world. \nDr. Hassan is the Full Professor of Finance and Hibernia Professor of Economics and Finance and Bank One Professor in Business in the Department of Economics and Finance at the University of New Orleans, Louisiana, USA. Professor Hassan is the winner of the 2016 IDB Prize in Islamic Banking and Finance. He has also received 2019 University of Louisiana System Outstanding Faculty Member Award, 2019 UNO Research, Creativity and Scholarly Career Award and 2018 UNO Gordon H “Nick” Mueller International Leadership Medallion. \nDr. Hassan is the editor/co-editor of four Islamic Banking and Finance Journals. He has more than 329 papers published/forthcoming in refereed academic journals to his credit. He has supervised 62 doctoral theses and acted as External examiners for 49 dissertations, and many of his students are now well placed in the academia, government and private sectors. \nDr. Hassan has edited and published several books and 4 books are forthcoming in 2019 on the topics of emerging issues in Islamic finance in Malaysia and Islamic corporate finance. \nA frequent traveler, Dr. Hassan gives lectures and workshops in the US and abroad, and has presented over 408 research papers at professional conferences and has delivered 184 invited papers/seminars. Dr. Hassan is the current President of Southwest Finance Association (SWFA) Meetings.","image":"https://0.academia-photos.com/169217/30307515/71227940/s200_kabir.hassan.jpg","thumbnailUrl":"https://0.academia-photos.com/169217/30307515/71227940/s65_kabir.hassan.jpg","primaryImageOfPage":{"@type":"ImageObject","url":"https://0.academia-photos.com/169217/30307515/71227940/s200_kabir.hassan.jpg","width":200},"sameAs":[],"relatedLink":"https://www.academia.edu/128304594/Islamic_Capital_Markets"}</script><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system/heading-95367dc03b794f6737f30123738a886cf53b7a65cdef98a922a98591d60063e3.css" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system/button-8c9ae4b5c8a2531640c354d92a1f3579c8ff103277ef74913e34c8a76d4e6c00.css" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system/body-170d1319f0e354621e81ca17054bb147da2856ec0702fe440a99af314a6338c5.css" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system/text_button-d1941ab08e91e29ee143084c4749da4aaffa350a2ac6eec2306b1d7a352d911a.css" /><style type="text/css">@media(max-width: 567px){:root{--token-mode: Parity;--dropshadow: 0 2px 4px 0 #22223340;--primary-brand: #0645b1;--error-dark: #b60000;--success-dark: #05b01c;--inactive-fill: #ebebee;--hover: #0c3b8d;--pressed: #082f75;--button-primary-fill-inactive: #ebebee;--button-primary-fill: #0645b1;--button-primary-text: #ffffff;--button-primary-fill-hover: #0c3b8d;--button-primary-fill-press: #082f75;--button-primary-icon: #ffffff;--button-primary-fill-inverse: #ffffff;--button-primary-text-inverse: #082f75;--button-primary-icon-inverse: #0645b1;--button-primary-fill-inverse-hover: #cddaef;--button-primary-stroke-inverse-pressed: #0645b1;--button-secondary-stroke-inactive: #b1b1ba;--button-secondary-fill: #eef2f9;--button-secondary-text: #082f75;--button-secondary-fill-press: #cddaef;--button-secondary-fill-inactive: #ebebee;--button-secondary-stroke: #cddaef;--button-secondary-stroke-hover: #386ac1;--button-secondary-stroke-press: #0645b1;--button-secondary-text-inactive: #b1b1ba;--button-secondary-icon: #082f75;--button-secondary-fill-hover: #e6ecf7;--button-secondary-stroke-inverse: #ffffff;--button-secondary-fill-inverse: rgba(255, 255, 255, 0);--button-secondary-icon-inverse: #ffffff;--button-secondary-icon-hover: #082f75;--button-secondary-icon-press: #082f75;--button-secondary-text-inverse: #ffffff;--button-secondary-text-hover: #082f75;--button-secondary-text-press: #082f75;--button-secondary-fill-inverse-hover: #043059;--button-xs-stroke: #141413;--button-xs-stroke-hover: #0c3b8d;--button-xs-stroke-press: #082f75;--button-xs-stroke-inactive: #ebebee;--button-xs-text: #141413;--button-xs-text-hover: #0c3b8d;--button-xs-text-press: #082f75;--button-xs-text-inactive: #91919e;--button-xs-icon: #141413;--button-xs-icon-hover: #0c3b8d;--button-xs-icon-press: #082f75;--button-xs-icon-inactive: #91919e;--button-xs-fill: #ffffff;--button-xs-fill-hover: #f4f7fc;--button-xs-fill-press: #eef2f9;--buttons-button-text-inactive: #91919e;--buttons-button-focus: #0645b1;--buttons-button-icon-inactive: #91919e;--buttons-small-buttons-corner-radius: 8px;--buttons-small-buttons-l-r-padding: 12px;--buttons-small-buttons-height: 44px;--buttons-small-buttons-gap: 8px;--buttons-small-buttons-icon-only-width: 44px;--buttons-small-buttons-icon-size: 20px;--buttons-small-buttons-stroke-default: 1px;--buttons-small-buttons-stroke-thick: 2px;--buttons-large-buttons-l-r-padding: 20px;--buttons-large-buttons-height: 54px;--buttons-large-buttons-icon-only-width: 54px;--buttons-large-buttons-icon-size: 20px;--buttons-large-buttons-gap: 8px;--buttons-large-buttons-corner-radius: 8px;--buttons-large-buttons-stroke-default: 1px;--buttons-large-buttons-stroke-thick: 2px;--buttons-extra-small-buttons-l-r-padding: 8px;--buttons-extra-small-buttons-height: 32px;--buttons-extra-small-buttons-icon-size: 16px;--buttons-extra-small-buttons-gap: 4px;--buttons-extra-small-buttons-corner-radius: 8px;--buttons-stroke-default: 1px;--buttons-stroke-thick: 2px;--background-beige: #f9f7f4;--error-light: #fff2f2;--text-placeholder: #6d6d7d;--stroke-dark: #141413;--stroke-light: #dddde2;--stroke-medium: #535366;--accent-green: #ccffd4;--accent-turquoise: #ccf7ff;--accent-yellow: #f7ffcc;--accent-peach: #ffd4cc;--accent-violet: #f7ccff;--accent-purple: #f4f7fc;--text-primary: #141413;--secondary-brand: #141413;--text-hover: #0c3b8d;--text-white: #ffffff;--text-link: #0645b1;--text-press: #082f75;--success-light: #f0f8f1;--background-light-blue: #eef2f9;--background-white: #ffffff;--premium-dark: #877440;--premium-light: #f9f6ed;--stroke-white: #ffffff;--inactive-content: #b1b1ba;--annotate-light: #a35dff;--annotate-dark: #824acc;--grid: #eef2f9;--inactive-stroke: #ebebee;--shadow: rgba(34, 34, 51, 0.25);--text-inactive: #6d6d7d;--text-error: #b60000;--stroke-error: #b60000;--background-error: #fff2f2;--background-black: #141413;--icon-default: #141413;--icon-blue: #0645b1;--background-grey: #dddde2;--icon-grey: #b1b1ba;--text-focus: #082f75;--brand-colors-neutral-black: #141413;--brand-colors-neutral-900: #535366;--brand-colors-neutral-800: #6d6d7d;--brand-colors-neutral-700: #91919e;--brand-colors-neutral-600: #b1b1ba;--brand-colors-neutral-500: #c8c8cf;--brand-colors-neutral-400: #dddde2;--brand-colors-neutral-300: #ebebee;--brand-colors-neutral-200: #f8f8fb;--brand-colors-neutral-100: #fafafa;--brand-colors-neutral-white: #ffffff;--brand-colors-blue-900: #043059;--brand-colors-blue-800: #082f75;--brand-colors-blue-700: #0c3b8d;--brand-colors-blue-600: #0645b1;--brand-colors-blue-500: #386ac1;--brand-colors-blue-400: #cddaef;--brand-colors-blue-300: #e6ecf7;--brand-colors-blue-200: #eef2f9;--brand-colors-blue-100: #f4f7fc;--brand-colors-gold-500: #877440;--brand-colors-gold-400: #e9e3d4;--brand-colors-gold-300: #f2efe8;--brand-colors-gold-200: #f9f6ed;--brand-colors-gold-100: #f9f7f4;--brand-colors-error-900: #920000;--brand-colors-error-500: #b60000;--brand-colors-success-900: #035c0f;--brand-colors-green: #ccffd4;--brand-colors-turquoise: #ccf7ff;--brand-colors-yellow: #f7ffcc;--brand-colors-peach: #ffd4cc;--brand-colors-violet: #f7ccff;--brand-colors-error-100: #fff2f2;--brand-colors-success-500: #05b01c;--brand-colors-success-100: #f0f8f1;--text-secondary: #535366;--icon-white: #ffffff;--background-beige-darker: #f2efe8;--icon-dark-grey: #535366;--type-font-family-sans-serif: Roboto;--type-font-family-serif: Georgia;--type-font-family-mono: IBM Plex Mono;--type-weights-300: 300;--type-weights-400: 400;--type-weights-500: 500;--type-weights-700: 700;--type-sizes-12: 12px;--type-sizes-14: 14px;--type-sizes-16: 16px;--type-sizes-18: 18px;--type-sizes-20: 20px;--type-sizes-22: 22px;--type-sizes-24: 24px;--type-sizes-28: 28px;--type-sizes-30: 30px;--type-sizes-32: 32px;--type-sizes-40: 40px;--type-sizes-42: 42px;--type-sizes-48-2: 48px;--type-line-heights-16: 16px;--type-line-heights-20: 20px;--type-line-heights-23: 23px;--type-line-heights-24: 24px;--type-line-heights-25: 25px;--type-line-heights-26: 26px;--type-line-heights-29: 29px;--type-line-heights-30: 30px;--type-line-heights-32: 32px;--type-line-heights-34: 34px;--type-line-heights-35: 35px;--type-line-heights-36: 36px;--type-line-heights-38: 38px;--type-line-heights-40: 40px;--type-line-heights-46: 46px;--type-line-heights-48: 48px;--type-line-heights-52: 52px;--type-line-heights-58: 58px;--type-line-heights-68: 68px;--type-line-heights-74: 74px;--type-line-heights-82: 82px;--type-paragraph-spacings-0: 0px;--type-paragraph-spacings-4: 4px;--type-paragraph-spacings-8: 8px;--type-paragraph-spacings-16: 16px;--type-sans-serif-xl-font-weight: 400;--type-sans-serif-xl-size: 32px;--type-sans-serif-xl-line-height: 46px;--type-sans-serif-xl-paragraph-spacing: 16px;--type-sans-serif-lg-font-weight: 400;--type-sans-serif-lg-size: 30px;--type-sans-serif-lg-line-height: 36px;--type-sans-serif-lg-paragraph-spacing: 16px;--type-sans-serif-md-font-weight: 400;--type-sans-serif-md-line-height: 30px;--type-sans-serif-md-paragraph-spacing: 16px;--type-sans-serif-md-size: 24px;--type-sans-serif-xs-font-weight: 700;--type-sans-serif-xs-line-height: 24px;--type-sans-serif-xs-paragraph-spacing: 0px;--type-sans-serif-xs-size: 18px;--type-sans-serif-sm-font-weight: 400;--type-sans-serif-sm-line-height: 32px;--type-sans-serif-sm-paragraph-spacing: 16px;--type-sans-serif-sm-size: 20px;--type-body-xl-font-weight: 400;--type-body-xl-size: 24px;--type-body-xl-line-height: 36px;--type-body-xl-paragraph-spacing: 0px;--type-body-sm-font-weight: 400;--type-body-sm-size: 14px;--type-body-sm-line-height: 20px;--type-body-sm-paragraph-spacing: 8px;--type-body-xs-font-weight: 400;--type-body-xs-size: 12px;--type-body-xs-line-height: 16px;--type-body-xs-paragraph-spacing: 0px;--type-body-md-font-weight: 400;--type-body-md-size: 16px;--type-body-md-line-height: 20px;--type-body-md-paragraph-spacing: 4px;--type-body-lg-font-weight: 400;--type-body-lg-size: 20px;--type-body-lg-line-height: 26px;--type-body-lg-paragraph-spacing: 16px;--type-body-lg-medium-font-weight: 500;--type-body-lg-medium-size: 20px;--type-body-lg-medium-line-height: 32px;--type-body-lg-medium-paragraph-spacing: 16px;--type-body-md-medium-font-weight: 500;--type-body-md-medium-size: 16px;--type-body-md-medium-line-height: 20px;--type-body-md-medium-paragraph-spacing: 4px;--type-body-sm-bold-font-weight: 700;--type-body-sm-bold-size: 14px;--type-body-sm-bold-line-height: 20px;--type-body-sm-bold-paragraph-spacing: 8px;--type-body-sm-medium-font-weight: 500;--type-body-sm-medium-size: 14px;--type-body-sm-medium-line-height: 20px;--type-body-sm-medium-paragraph-spacing: 8px;--type-serif-md-font-weight: 400;--type-serif-md-size: 32px;--type-serif-md-paragraph-spacing: 0px;--type-serif-md-line-height: 40px;--type-serif-sm-font-weight: 400;--type-serif-sm-size: 24px;--type-serif-sm-paragraph-spacing: 0px;--type-serif-sm-line-height: 26px;--type-serif-lg-font-weight: 400;--type-serif-lg-size: 48px;--type-serif-lg-paragraph-spacing: 0px;--type-serif-lg-line-height: 52px;--type-serif-xs-font-weight: 400;--type-serif-xs-size: 18px;--type-serif-xs-line-height: 24px;--type-serif-xs-paragraph-spacing: 0px;--type-serif-xl-font-weight: 400;--type-serif-xl-size: 48px;--type-serif-xl-paragraph-spacing: 0px;--type-serif-xl-line-height: 58px;--type-mono-md-font-weight: 400;--type-mono-md-size: 22px;--type-mono-md-line-height: 24px;--type-mono-md-paragraph-spacing: 0px;--type-mono-lg-font-weight: 400;--type-mono-lg-size: 40px;--type-mono-lg-line-height: 40px;--type-mono-lg-paragraph-spacing: 0px;--type-mono-sm-font-weight: 400;--type-mono-sm-size: 14px;--type-mono-sm-line-height: 24px;--type-mono-sm-paragraph-spacing: 0px;--spacing-xs-4: 4px;--spacing-xs-8: 8px;--spacing-xs-16: 16px;--spacing-sm-24: 24px;--spacing-sm-32: 32px;--spacing-md-40: 40px;--spacing-md-48: 48px;--spacing-lg-64: 64px;--spacing-lg-80: 80px;--spacing-xlg-104: 104px;--spacing-xlg-152: 152px;--spacing-xs-12: 12px;--spacing-page-section: 80px;--spacing-card-list-spacing: 48px;--spacing-text-section-spacing: 64px;--spacing-md-xs-headings: 40px;--corner-radius-radius-lg: 16px;--corner-radius-radius-sm: 4px;--corner-radius-radius-md: 8px;--corner-radius-radius-round: 104px}}@media(min-width: 568px)and (max-width: 1279px){:root{--token-mode: Parity;--dropshadow: 0 2px 4px 0 #22223340;--primary-brand: #0645b1;--error-dark: #b60000;--success-dark: #05b01c;--inactive-fill: #ebebee;--hover: #0c3b8d;--pressed: #082f75;--button-primary-fill-inactive: #ebebee;--button-primary-fill: #0645b1;--button-primary-text: #ffffff;--button-primary-fill-hover: #0c3b8d;--button-primary-fill-press: #082f75;--button-primary-icon: #ffffff;--button-primary-fill-inverse: #ffffff;--button-primary-text-inverse: #082f75;--button-primary-icon-inverse: #0645b1;--button-primary-fill-inverse-hover: #cddaef;--button-primary-stroke-inverse-pressed: #0645b1;--button-secondary-stroke-inactive: #b1b1ba;--button-secondary-fill: #eef2f9;--button-secondary-text: #082f75;--button-secondary-fill-press: #cddaef;--button-secondary-fill-inactive: #ebebee;--button-secondary-stroke: #cddaef;--button-secondary-stroke-hover: #386ac1;--button-secondary-stroke-press: #0645b1;--button-secondary-text-inactive: #b1b1ba;--button-secondary-icon: #082f75;--button-secondary-fill-hover: #e6ecf7;--button-secondary-stroke-inverse: #ffffff;--button-secondary-fill-inverse: rgba(255, 255, 255, 0);--button-secondary-icon-inverse: #ffffff;--button-secondary-icon-hover: #082f75;--button-secondary-icon-press: #082f75;--button-secondary-text-inverse: #ffffff;--button-secondary-text-hover: #082f75;--button-secondary-text-press: #082f75;--button-secondary-fill-inverse-hover: #043059;--button-xs-stroke: #141413;--button-xs-stroke-hover: #0c3b8d;--button-xs-stroke-press: #082f75;--button-xs-stroke-inactive: #ebebee;--button-xs-text: #141413;--button-xs-text-hover: #0c3b8d;--button-xs-text-press: #082f75;--button-xs-text-inactive: #91919e;--button-xs-icon: #141413;--button-xs-icon-hover: #0c3b8d;--button-xs-icon-press: #082f75;--button-xs-icon-inactive: #91919e;--button-xs-fill: #ffffff;--button-xs-fill-hover: #f4f7fc;--button-xs-fill-press: #eef2f9;--buttons-button-text-inactive: #91919e;--buttons-button-focus: #0645b1;--buttons-button-icon-inactive: #91919e;--buttons-small-buttons-corner-radius: 8px;--buttons-small-buttons-l-r-padding: 12px;--buttons-small-buttons-height: 44px;--buttons-small-buttons-gap: 8px;--buttons-small-buttons-icon-only-width: 44px;--buttons-small-buttons-icon-size: 20px;--buttons-small-buttons-stroke-default: 1px;--buttons-small-buttons-stroke-thick: 2px;--buttons-large-buttons-l-r-padding: 20px;--buttons-large-buttons-height: 54px;--buttons-large-buttons-icon-only-width: 54px;--buttons-large-buttons-icon-size: 20px;--buttons-large-buttons-gap: 8px;--buttons-large-buttons-corner-radius: 8px;--buttons-large-buttons-stroke-default: 1px;--buttons-large-buttons-stroke-thick: 2px;--buttons-extra-small-buttons-l-r-padding: 8px;--buttons-extra-small-buttons-height: 32px;--buttons-extra-small-buttons-icon-size: 16px;--buttons-extra-small-buttons-gap: 4px;--buttons-extra-small-buttons-corner-radius: 8px;--buttons-stroke-default: 1px;--buttons-stroke-thick: 2px;--background-beige: #f9f7f4;--error-light: #fff2f2;--text-placeholder: #6d6d7d;--stroke-dark: #141413;--stroke-light: #dddde2;--stroke-medium: #535366;--accent-green: #ccffd4;--accent-turquoise: #ccf7ff;--accent-yellow: #f7ffcc;--accent-peach: #ffd4cc;--accent-violet: #f7ccff;--accent-purple: #f4f7fc;--text-primary: #141413;--secondary-brand: #141413;--text-hover: #0c3b8d;--text-white: #ffffff;--text-link: #0645b1;--text-press: #082f75;--success-light: #f0f8f1;--background-light-blue: #eef2f9;--background-white: #ffffff;--premium-dark: #877440;--premium-light: #f9f6ed;--stroke-white: #ffffff;--inactive-content: #b1b1ba;--annotate-light: #a35dff;--annotate-dark: #824acc;--grid: #eef2f9;--inactive-stroke: #ebebee;--shadow: rgba(34, 34, 51, 0.25);--text-inactive: #6d6d7d;--text-error: #b60000;--stroke-error: #b60000;--background-error: #fff2f2;--background-black: #141413;--icon-default: #141413;--icon-blue: #0645b1;--background-grey: #dddde2;--icon-grey: #b1b1ba;--text-focus: #082f75;--brand-colors-neutral-black: #141413;--brand-colors-neutral-900: #535366;--brand-colors-neutral-800: #6d6d7d;--brand-colors-neutral-700: #91919e;--brand-colors-neutral-600: #b1b1ba;--brand-colors-neutral-500: #c8c8cf;--brand-colors-neutral-400: #dddde2;--brand-colors-neutral-300: #ebebee;--brand-colors-neutral-200: #f8f8fb;--brand-colors-neutral-100: #fafafa;--brand-colors-neutral-white: #ffffff;--brand-colors-blue-900: #043059;--brand-colors-blue-800: #082f75;--brand-colors-blue-700: #0c3b8d;--brand-colors-blue-600: #0645b1;--brand-colors-blue-500: #386ac1;--brand-colors-blue-400: #cddaef;--brand-colors-blue-300: #e6ecf7;--brand-colors-blue-200: #eef2f9;--brand-colors-blue-100: #f4f7fc;--brand-colors-gold-500: #877440;--brand-colors-gold-400: #e9e3d4;--brand-colors-gold-300: #f2efe8;--brand-colors-gold-200: #f9f6ed;--brand-colors-gold-100: #f9f7f4;--brand-colors-error-900: #920000;--brand-colors-error-500: #b60000;--brand-colors-success-900: #035c0f;--brand-colors-green: #ccffd4;--brand-colors-turquoise: #ccf7ff;--brand-colors-yellow: #f7ffcc;--brand-colors-peach: #ffd4cc;--brand-colors-violet: #f7ccff;--brand-colors-error-100: #fff2f2;--brand-colors-success-500: #05b01c;--brand-colors-success-100: #f0f8f1;--text-secondary: #535366;--icon-white: #ffffff;--background-beige-darker: #f2efe8;--icon-dark-grey: #535366;--type-font-family-sans-serif: Roboto;--type-font-family-serif: Georgia;--type-font-family-mono: IBM Plex Mono;--type-weights-300: 300;--type-weights-400: 400;--type-weights-500: 500;--type-weights-700: 700;--type-sizes-12: 12px;--type-sizes-14: 14px;--type-sizes-16: 16px;--type-sizes-18: 18px;--type-sizes-20: 20px;--type-sizes-22: 22px;--type-sizes-24: 24px;--type-sizes-28: 28px;--type-sizes-30: 30px;--type-sizes-32: 32px;--type-sizes-40: 40px;--type-sizes-42: 42px;--type-sizes-48-2: 48px;--type-line-heights-16: 16px;--type-line-heights-20: 20px;--type-line-heights-23: 23px;--type-line-heights-24: 24px;--type-line-heights-25: 25px;--type-line-heights-26: 26px;--type-line-heights-29: 29px;--type-line-heights-30: 30px;--type-line-heights-32: 32px;--type-line-heights-34: 34px;--type-line-heights-35: 35px;--type-line-heights-36: 36px;--type-line-heights-38: 38px;--type-line-heights-40: 40px;--type-line-heights-46: 46px;--type-line-heights-48: 48px;--type-line-heights-52: 52px;--type-line-heights-58: 58px;--type-line-heights-68: 68px;--type-line-heights-74: 74px;--type-line-heights-82: 82px;--type-paragraph-spacings-0: 0px;--type-paragraph-spacings-4: 4px;--type-paragraph-spacings-8: 8px;--type-paragraph-spacings-16: 16px;--type-sans-serif-xl-font-weight: 400;--type-sans-serif-xl-size: 42px;--type-sans-serif-xl-line-height: 46px;--type-sans-serif-xl-paragraph-spacing: 16px;--type-sans-serif-lg-font-weight: 400;--type-sans-serif-lg-size: 32px;--type-sans-serif-lg-line-height: 36px;--type-sans-serif-lg-paragraph-spacing: 16px;--type-sans-serif-md-font-weight: 400;--type-sans-serif-md-line-height: 34px;--type-sans-serif-md-paragraph-spacing: 16px;--type-sans-serif-md-size: 28px;--type-sans-serif-xs-font-weight: 700;--type-sans-serif-xs-line-height: 25px;--type-sans-serif-xs-paragraph-spacing: 0px;--type-sans-serif-xs-size: 20px;--type-sans-serif-sm-font-weight: 400;--type-sans-serif-sm-line-height: 30px;--type-sans-serif-sm-paragraph-spacing: 16px;--type-sans-serif-sm-size: 24px;--type-body-xl-font-weight: 400;--type-body-xl-size: 24px;--type-body-xl-line-height: 36px;--type-body-xl-paragraph-spacing: 0px;--type-body-sm-font-weight: 400;--type-body-sm-size: 14px;--type-body-sm-line-height: 20px;--type-body-sm-paragraph-spacing: 8px;--type-body-xs-font-weight: 400;--type-body-xs-size: 12px;--type-body-xs-line-height: 16px;--type-body-xs-paragraph-spacing: 0px;--type-body-md-font-weight: 400;--type-body-md-size: 16px;--type-body-md-line-height: 20px;--type-body-md-paragraph-spacing: 4px;--type-body-lg-font-weight: 400;--type-body-lg-size: 20px;--type-body-lg-line-height: 26px;--type-body-lg-paragraph-spacing: 16px;--type-body-lg-medium-font-weight: 500;--type-body-lg-medium-size: 20px;--type-body-lg-medium-line-height: 32px;--type-body-lg-medium-paragraph-spacing: 16px;--type-body-md-medium-font-weight: 500;--type-body-md-medium-size: 16px;--type-body-md-medium-line-height: 20px;--type-body-md-medium-paragraph-spacing: 4px;--type-body-sm-bold-font-weight: 700;--type-body-sm-bold-size: 14px;--type-body-sm-bold-line-height: 20px;--type-body-sm-bold-paragraph-spacing: 8px;--type-body-sm-medium-font-weight: 500;--type-body-sm-medium-size: 14px;--type-body-sm-medium-line-height: 20px;--type-body-sm-medium-paragraph-spacing: 8px;--type-serif-md-font-weight: 400;--type-serif-md-size: 40px;--type-serif-md-paragraph-spacing: 0px;--type-serif-md-line-height: 48px;--type-serif-sm-font-weight: 400;--type-serif-sm-size: 28px;--type-serif-sm-paragraph-spacing: 0px;--type-serif-sm-line-height: 32px;--type-serif-lg-font-weight: 400;--type-serif-lg-size: 58px;--type-serif-lg-paragraph-spacing: 0px;--type-serif-lg-line-height: 68px;--type-serif-xs-font-weight: 400;--type-serif-xs-size: 18px;--type-serif-xs-line-height: 24px;--type-serif-xs-paragraph-spacing: 0px;--type-serif-xl-font-weight: 400;--type-serif-xl-size: 74px;--type-serif-xl-paragraph-spacing: 0px;--type-serif-xl-line-height: 82px;--type-mono-md-font-weight: 400;--type-mono-md-size: 22px;--type-mono-md-line-height: 24px;--type-mono-md-paragraph-spacing: 0px;--type-mono-lg-font-weight: 400;--type-mono-lg-size: 40px;--type-mono-lg-line-height: 40px;--type-mono-lg-paragraph-spacing: 0px;--type-mono-sm-font-weight: 400;--type-mono-sm-size: 14px;--type-mono-sm-line-height: 24px;--type-mono-sm-paragraph-spacing: 0px;--spacing-xs-4: 4px;--spacing-xs-8: 8px;--spacing-xs-16: 16px;--spacing-sm-24: 24px;--spacing-sm-32: 32px;--spacing-md-40: 40px;--spacing-md-48: 48px;--spacing-lg-64: 64px;--spacing-lg-80: 80px;--spacing-xlg-104: 104px;--spacing-xlg-152: 152px;--spacing-xs-12: 12px;--spacing-page-section: 104px;--spacing-card-list-spacing: 48px;--spacing-text-section-spacing: 80px;--spacing-md-xs-headings: 40px;--corner-radius-radius-lg: 16px;--corner-radius-radius-sm: 4px;--corner-radius-radius-md: 8px;--corner-radius-radius-round: 104px}}@media(min-width: 1280px){:root{--token-mode: Parity;--dropshadow: 0 2px 4px 0 #22223340;--primary-brand: #0645b1;--error-dark: #b60000;--success-dark: #05b01c;--inactive-fill: #ebebee;--hover: #0c3b8d;--pressed: #082f75;--button-primary-fill-inactive: #ebebee;--button-primary-fill: #0645b1;--button-primary-text: #ffffff;--button-primary-fill-hover: #0c3b8d;--button-primary-fill-press: #082f75;--button-primary-icon: #ffffff;--button-primary-fill-inverse: #ffffff;--button-primary-text-inverse: #082f75;--button-primary-icon-inverse: #0645b1;--button-primary-fill-inverse-hover: #cddaef;--button-primary-stroke-inverse-pressed: #0645b1;--button-secondary-stroke-inactive: #b1b1ba;--button-secondary-fill: #eef2f9;--button-secondary-text: #082f75;--button-secondary-fill-press: #cddaef;--button-secondary-fill-inactive: #ebebee;--button-secondary-stroke: #cddaef;--button-secondary-stroke-hover: #386ac1;--button-secondary-stroke-press: #0645b1;--button-secondary-text-inactive: #b1b1ba;--button-secondary-icon: #082f75;--button-secondary-fill-hover: #e6ecf7;--button-secondary-stroke-inverse: #ffffff;--button-secondary-fill-inverse: rgba(255, 255, 255, 0);--button-secondary-icon-inverse: #ffffff;--button-secondary-icon-hover: #082f75;--button-secondary-icon-press: #082f75;--button-secondary-text-inverse: #ffffff;--button-secondary-text-hover: #082f75;--button-secondary-text-press: #082f75;--button-secondary-fill-inverse-hover: #043059;--button-xs-stroke: #141413;--button-xs-stroke-hover: #0c3b8d;--button-xs-stroke-press: #082f75;--button-xs-stroke-inactive: #ebebee;--button-xs-text: #141413;--button-xs-text-hover: #0c3b8d;--button-xs-text-press: #082f75;--button-xs-text-inactive: #91919e;--button-xs-icon: #141413;--button-xs-icon-hover: #0c3b8d;--button-xs-icon-press: #082f75;--button-xs-icon-inactive: #91919e;--button-xs-fill: #ffffff;--button-xs-fill-hover: #f4f7fc;--button-xs-fill-press: #eef2f9;--buttons-button-text-inactive: #91919e;--buttons-button-focus: #0645b1;--buttons-button-icon-inactive: #91919e;--buttons-small-buttons-corner-radius: 8px;--buttons-small-buttons-l-r-padding: 12px;--buttons-small-buttons-height: 44px;--buttons-small-buttons-gap: 8px;--buttons-small-buttons-icon-only-width: 44px;--buttons-small-buttons-icon-size: 20px;--buttons-small-buttons-stroke-default: 1px;--buttons-small-buttons-stroke-thick: 2px;--buttons-large-buttons-l-r-padding: 20px;--buttons-large-buttons-height: 54px;--buttons-large-buttons-icon-only-width: 54px;--buttons-large-buttons-icon-size: 20px;--buttons-large-buttons-gap: 8px;--buttons-large-buttons-corner-radius: 8px;--buttons-large-buttons-stroke-default: 1px;--buttons-large-buttons-stroke-thick: 2px;--buttons-extra-small-buttons-l-r-padding: 8px;--buttons-extra-small-buttons-height: 32px;--buttons-extra-small-buttons-icon-size: 16px;--buttons-extra-small-buttons-gap: 4px;--buttons-extra-small-buttons-corner-radius: 8px;--buttons-stroke-default: 1px;--buttons-stroke-thick: 2px;--background-beige: #f9f7f4;--error-light: #fff2f2;--text-placeholder: #6d6d7d;--stroke-dark: #141413;--stroke-light: #dddde2;--stroke-medium: #535366;--accent-green: #ccffd4;--accent-turquoise: #ccf7ff;--accent-yellow: #f7ffcc;--accent-peach: #ffd4cc;--accent-violet: #f7ccff;--accent-purple: #f4f7fc;--text-primary: #141413;--secondary-brand: #141413;--text-hover: #0c3b8d;--text-white: #ffffff;--text-link: #0645b1;--text-press: #082f75;--success-light: #f0f8f1;--background-light-blue: #eef2f9;--background-white: #ffffff;--premium-dark: #877440;--premium-light: #f9f6ed;--stroke-white: #ffffff;--inactive-content: #b1b1ba;--annotate-light: #a35dff;--annotate-dark: #824acc;--grid: #eef2f9;--inactive-stroke: #ebebee;--shadow: rgba(34, 34, 51, 0.25);--text-inactive: #6d6d7d;--text-error: #b60000;--stroke-error: #b60000;--background-error: #fff2f2;--background-black: #141413;--icon-default: #141413;--icon-blue: #0645b1;--background-grey: #dddde2;--icon-grey: #b1b1ba;--text-focus: #082f75;--brand-colors-neutral-black: #141413;--brand-colors-neutral-900: #535366;--brand-colors-neutral-800: #6d6d7d;--brand-colors-neutral-700: #91919e;--brand-colors-neutral-600: #b1b1ba;--brand-colors-neutral-500: #c8c8cf;--brand-colors-neutral-400: #dddde2;--brand-colors-neutral-300: #ebebee;--brand-colors-neutral-200: #f8f8fb;--brand-colors-neutral-100: #fafafa;--brand-colors-neutral-white: #ffffff;--brand-colors-blue-900: #043059;--brand-colors-blue-800: #082f75;--brand-colors-blue-700: #0c3b8d;--brand-colors-blue-600: #0645b1;--brand-colors-blue-500: #386ac1;--brand-colors-blue-400: #cddaef;--brand-colors-blue-300: #e6ecf7;--brand-colors-blue-200: #eef2f9;--brand-colors-blue-100: #f4f7fc;--brand-colors-gold-500: #877440;--brand-colors-gold-400: #e9e3d4;--brand-colors-gold-300: #f2efe8;--brand-colors-gold-200: #f9f6ed;--brand-colors-gold-100: #f9f7f4;--brand-colors-error-900: #920000;--brand-colors-error-500: #b60000;--brand-colors-success-900: #035c0f;--brand-colors-green: #ccffd4;--brand-colors-turquoise: #ccf7ff;--brand-colors-yellow: #f7ffcc;--brand-colors-peach: #ffd4cc;--brand-colors-violet: #f7ccff;--brand-colors-error-100: #fff2f2;--brand-colors-success-500: #05b01c;--brand-colors-success-100: #f0f8f1;--text-secondary: #535366;--icon-white: #ffffff;--background-beige-darker: #f2efe8;--icon-dark-grey: #535366;--type-font-family-sans-serif: Roboto;--type-font-family-serif: Georgia;--type-font-family-mono: IBM Plex Mono;--type-weights-300: 300;--type-weights-400: 400;--type-weights-500: 500;--type-weights-700: 700;--type-sizes-12: 12px;--type-sizes-14: 14px;--type-sizes-16: 16px;--type-sizes-18: 18px;--type-sizes-20: 20px;--type-sizes-22: 22px;--type-sizes-24: 24px;--type-sizes-28: 28px;--type-sizes-30: 30px;--type-sizes-32: 32px;--type-sizes-40: 40px;--type-sizes-42: 42px;--type-sizes-48-2: 48px;--type-line-heights-16: 16px;--type-line-heights-20: 20px;--type-line-heights-23: 23px;--type-line-heights-24: 24px;--type-line-heights-25: 25px;--type-line-heights-26: 26px;--type-line-heights-29: 29px;--type-line-heights-30: 30px;--type-line-heights-32: 32px;--type-line-heights-34: 34px;--type-line-heights-35: 35px;--type-line-heights-36: 36px;--type-line-heights-38: 38px;--type-line-heights-40: 40px;--type-line-heights-46: 46px;--type-line-heights-48: 48px;--type-line-heights-52: 52px;--type-line-heights-58: 58px;--type-line-heights-68: 68px;--type-line-heights-74: 74px;--type-line-heights-82: 82px;--type-paragraph-spacings-0: 0px;--type-paragraph-spacings-4: 4px;--type-paragraph-spacings-8: 8px;--type-paragraph-spacings-16: 16px;--type-sans-serif-xl-font-weight: 400;--type-sans-serif-xl-size: 42px;--type-sans-serif-xl-line-height: 46px;--type-sans-serif-xl-paragraph-spacing: 16px;--type-sans-serif-lg-font-weight: 400;--type-sans-serif-lg-size: 32px;--type-sans-serif-lg-line-height: 38px;--type-sans-serif-lg-paragraph-spacing: 16px;--type-sans-serif-md-font-weight: 400;--type-sans-serif-md-line-height: 34px;--type-sans-serif-md-paragraph-spacing: 16px;--type-sans-serif-md-size: 28px;--type-sans-serif-xs-font-weight: 700;--type-sans-serif-xs-line-height: 25px;--type-sans-serif-xs-paragraph-spacing: 0px;--type-sans-serif-xs-size: 20px;--type-sans-serif-sm-font-weight: 400;--type-sans-serif-sm-line-height: 30px;--type-sans-serif-sm-paragraph-spacing: 16px;--type-sans-serif-sm-size: 24px;--type-body-xl-font-weight: 400;--type-body-xl-size: 24px;--type-body-xl-line-height: 36px;--type-body-xl-paragraph-spacing: 0px;--type-body-sm-font-weight: 400;--type-body-sm-size: 14px;--type-body-sm-line-height: 20px;--type-body-sm-paragraph-spacing: 8px;--type-body-xs-font-weight: 400;--type-body-xs-size: 12px;--type-body-xs-line-height: 16px;--type-body-xs-paragraph-spacing: 0px;--type-body-md-font-weight: 400;--type-body-md-size: 16px;--type-body-md-line-height: 20px;--type-body-md-paragraph-spacing: 4px;--type-body-lg-font-weight: 400;--type-body-lg-size: 20px;--type-body-lg-line-height: 26px;--type-body-lg-paragraph-spacing: 16px;--type-body-lg-medium-font-weight: 500;--type-body-lg-medium-size: 20px;--type-body-lg-medium-line-height: 32px;--type-body-lg-medium-paragraph-spacing: 16px;--type-body-md-medium-font-weight: 500;--type-body-md-medium-size: 16px;--type-body-md-medium-line-height: 20px;--type-body-md-medium-paragraph-spacing: 4px;--type-body-sm-bold-font-weight: 700;--type-body-sm-bold-size: 14px;--type-body-sm-bold-line-height: 20px;--type-body-sm-bold-paragraph-spacing: 8px;--type-body-sm-medium-font-weight: 500;--type-body-sm-medium-size: 14px;--type-body-sm-medium-line-height: 20px;--type-body-sm-medium-paragraph-spacing: 8px;--type-serif-md-font-weight: 400;--type-serif-md-size: 40px;--type-serif-md-paragraph-spacing: 0px;--type-serif-md-line-height: 48px;--type-serif-sm-font-weight: 400;--type-serif-sm-size: 28px;--type-serif-sm-paragraph-spacing: 0px;--type-serif-sm-line-height: 32px;--type-serif-lg-font-weight: 400;--type-serif-lg-size: 58px;--type-serif-lg-paragraph-spacing: 0px;--type-serif-lg-line-height: 68px;--type-serif-xs-font-weight: 400;--type-serif-xs-size: 18px;--type-serif-xs-line-height: 24px;--type-serif-xs-paragraph-spacing: 0px;--type-serif-xl-font-weight: 400;--type-serif-xl-size: 74px;--type-serif-xl-paragraph-spacing: 0px;--type-serif-xl-line-height: 82px;--type-mono-md-font-weight: 400;--type-mono-md-size: 22px;--type-mono-md-line-height: 24px;--type-mono-md-paragraph-spacing: 0px;--type-mono-lg-font-weight: 400;--type-mono-lg-size: 40px;--type-mono-lg-line-height: 40px;--type-mono-lg-paragraph-spacing: 0px;--type-mono-sm-font-weight: 400;--type-mono-sm-size: 14px;--type-mono-sm-line-height: 24px;--type-mono-sm-paragraph-spacing: 0px;--spacing-xs-4: 4px;--spacing-xs-8: 8px;--spacing-xs-16: 16px;--spacing-sm-24: 24px;--spacing-sm-32: 32px;--spacing-md-40: 40px;--spacing-md-48: 48px;--spacing-lg-64: 64px;--spacing-lg-80: 80px;--spacing-xlg-104: 104px;--spacing-xlg-152: 152px;--spacing-xs-12: 12px;--spacing-page-section: 152px;--spacing-card-list-spacing: 48px;--spacing-text-section-spacing: 80px;--spacing-md-xs-headings: 40px;--corner-radius-radius-lg: 16px;--corner-radius-radius-sm: 4px;--corner-radius-radius-md: 8px;--corner-radius-radius-round: 104px}}</style><link crossorigin="" href="https://fonts.gstatic.com/" rel="preconnect" /><link href="https://fonts.googleapis.com/css2?family=DM+Sans:ital,opsz,wght@0,9..40,100..1000;1,9..40,100..1000&family=Gupter:wght@400;500;700&family=IBM+Plex+Mono:wght@300;400&family=Material+Symbols+Outlined:opsz,wght,FILL,GRAD@20,400,0,0&display=swap" rel="stylesheet" /><link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system/common-57f9da13cef3fd4e2a8b655342c6488eded3e557e823fe67571f2ac77acd7b6f.css" /> <meta name="author" content="kabir hassan" /> <meta name="description" content="Professor Dr. M. Kabir Hassan is a financial economist with consulting, research and teaching experiences in development finance, money and capital markets,…" /> <meta name="google-site-verification" content="bKJMBZA7E43xhDOopFZkssMMkBRjvYERV-NaN4R6mrs" /> <script> var $controller_name = 'works'; var $action_name = "summary"; var $rails_env = 'production'; var $app_rev = '9744e839ffe2d813ef8b7eb988ae0a3341a6052d'; var $domain = 'academia.edu'; var $app_host = "academia.edu"; var $asset_host = "academia-assets.com"; var $start_time = new Date().getTime(); var $recaptcha_key = "6LdxlRMTAAAAADnu_zyLhLg0YF9uACwz78shpjJB"; var $recaptcha_invisible_key = "6Lf3KHUUAAAAACggoMpmGJdQDtiyrjVlvGJ6BbAj"; var $disableClientRecordHit = false; </script> <script> window.Aedu = { hit_data: null }; window.Aedu.SiteStats = {"premium_universities_count":13919,"monthly_visitors":"140 million","monthly_visitor_count":140791684,"monthly_visitor_count_in_millions":140,"user_count":286053652,"paper_count":55203019,"paper_count_in_millions":55,"page_count":432000000,"page_count_in_millions":432,"pdf_count":16500000,"pdf_count_in_millions":16}; window.Aedu.serverRenderTime = new Date(1743391000000); window.Aedu.timeDifference = new Date().getTime() - 1743391000000; window.Aedu.isUsingCssV1 = false; window.Aedu.enableLocalization = true; window.Aedu.activateFullstory = false; window.Aedu.serviceAvailability = { status: {"attention_db":"on","bibliography_db":"on","contacts_db":"on","email_db":"on","indexability_db":"on","mentions_db":"on","news_db":"on","notifications_db":"on","offsite_mentions_db":"on","redshift":"on","redshift_exports_db":"on","related_works_db":"on","ring_db":"on","user_tests_db":"on"}, serviceEnabled: function(service) { return this.status[service] === "on"; }, readEnabled: function(service) { return this.serviceEnabled(service) || this.status[service] === "read_only"; }, }; window.Aedu.viewApmTrace = function() { // Check if x-apm-trace-id meta tag is set, and open the trace in APM // in a new window if it is. var apmTraceId = document.head.querySelector('meta[name="x-apm-trace-id"]'); if (apmTraceId) { var traceId = apmTraceId.content; // Use trace ID to construct URL, an example URL looks like: // https://app.datadoghq.com/apm/traces?query=trace_id%31298410148923562634 var apmUrl = 'https://app.datadoghq.com/apm/traces?query=trace_id%3A' + traceId; window.open(apmUrl, '_blank'); } }; </script>  <link href="https://fonts.googleapis.com/css?family=Roboto:100,100i,300,300i,400,400i,500,500i,700,700i,900,900i" rel="stylesheet"> <link rel="preload" href="//maxcdn.bootstrapcdn.com/font-awesome/4.3.0/css/font-awesome.min.css" as="style" onload="this.rel='stylesheet'"> <link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/libraries-a9675dcb01ec4ef6aa807ba772c7a5a00c1820d3ff661c1038a20f80d06bb4e4.css" /> <link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/academia-9982828ed1de4777566441c35ccf7157c55ca779141fce69380d727ebdbbb926.css" /> <link rel="stylesheet" media="all" href="//a.academia-assets.com/assets/design_system_legacy-056a9113b9a0f5343d013b29ee1929d5a18be35fdcdceb616600b4db8bd20054.css" /> <script src="//a.academia-assets.com/assets/webpack_bundles/runtime-bundle-005434038af4252ca37c527588411a3d6a0eabb5f727fac83f8bbe7fd88d93bb.js"></script> <script src="//a.academia-assets.com/assets/webpack_bundles/webpack_libraries_and_infrequently_changed.wjs-bundle-cf157bca4ef673abcac8051ac68ed1136134beba22a884388e7ed6391572eef4.js"></script> <script src="//a.academia-assets.com/assets/webpack_bundles/core_webpack.wjs-bundle-f96ab8a6334d161855249975a57d3f3d57f65c2e7553c6d20ab43c63efb79575.js"></script> <script src="//a.academia-assets.com/assets/webpack_bundles/sentry.wjs-bundle-5fe03fddca915c8ba0f7edbe64c194308e8ce5abaed7bffe1255ff37549c4808.js"></script> <script> jade = window.jade || {}; jade.helpers = window.$h; jade._ = window._; </script>  <script id="tag-manager-head-root">(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer_old','GTM-5G9JF7Z');</script>  <script> window.gptadslots = []; window.googletag = window.googletag || {}; window.googletag.cmd = window.googletag.cmd || []; </script> <script type="text/javascript"> // TODO(jacob): This should be defined, may be rare load order problem. // Checking if null is just a quick fix, will default to en if unset. // Better fix is to run this immedietely after I18n is set. if (window.I18n != null) { I18n.defaultLocale = "en"; I18n.locale = "en"; I18n.fallbacks = true; } </script> <link rel="canonical" href="https://uno.academia.edu/KabirHassan" /> </head>   <body class='c-profiles/works a-summary logged_out'>  <div id="fb-root"></div><script>window.fbAsyncInit = function() { FB.init({ appId: "2369844204", version: "v8.0", status: true, cookie: true, xfbml: true }); // Additional initialization code. if (window.InitFacebook) { // facebook.ts already loaded, set it up. window.InitFacebook(); } else { // Set a flag for facebook.ts to find when it loads. window.academiaAuthReadyFacebook = true; } };</script><script>window.fbAsyncLoad = function() { // Protection against double calling of this function if (window.FB) { return; } (function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); } if (!window.defer_facebook) { // Autoload if not deferred window.fbAsyncLoad(); } else { // Defer loading by 5 seconds setTimeout(function() { window.fbAsyncLoad(); }, 5000); }</script> <div id="google-root"></div><script>window.loadGoogle = function() { if (window.InitGoogle) { // google.ts already loaded, set it up. window.InitGoogle("331998490334-rsn3chp12mbkiqhl6e7lu2q0mlbu0f1b"); } else { // Set a flag for google.ts to use when it loads. window.GoogleClientID = "331998490334-rsn3chp12mbkiqhl6e7lu2q0mlbu0f1b"; } };</script><script>window.googleAsyncLoad = function() { // Protection against double calling of this function (function(d) { var js; var id = 'google-jssdk'; var ref = d.getElementsByTagName('script')[0]; if (d.getElementById(id)) { return; } js = d.createElement('script'); js.id = id; js.async = true; js.onload = loadGoogle; js.src = "https://accounts.google.com/gsi/client" ref.parentNode.insertBefore(js, ref); }(document)); } if (!window.defer_google) { // Autoload if not deferred window.googleAsyncLoad(); } else { // Defer loading by 5 seconds setTimeout(function() { window.googleAsyncLoad(); }, 5000); }</script> <div id="tag-manager-body-root">  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-5G9JF7Z" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>   <script> window.addEventListener('load', function() { if (document.querySelector('input[name="commit"]')) { document.querySelector('input[name="commit"]').addEventListener('click', function() { gtag('event', 'click', { event_category: 'button', event_label: 'Log In' }) }) } }); </script> </div> <script>var _comscore = _comscore || []; _comscore.push({ c1: "2", c2: "26766707" }); (function() { var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; s.async = true; s.src = (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js"; el.parentNode.insertBefore(s, el); })();</script><img src="https://sb.scorecardresearch.com/p?c1=2&c2=26766707&cv=2.0&cj=1" style="position: absolute; visibility: hidden" /> <div id='react-modal'></div> <div class='DesignSystem'> <a class='u-showOnFocus' href='#site'> Skip to main content </a> </div> <div id="upgrade_ie_banner" style="display: none;"><p>Academia.edu no longer supports Internet Explorer.</p><p>To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to <a href="https://www.academia.edu/upgrade-browser">upgrade your browser</a>.</p></div><script>// Show this banner for all versions of IE if (!!window.MSInputMethodContext || /(MSIE)/.test(navigator.userAgent)) { document.getElementById('upgrade_ie_banner').style.display = 'block'; }</script> <div class="DesignSystem bootstrap ShrinkableNav"><div class="navbar navbar-default main-header"><div class="container-wrapper" id="main-header-container"><div class="container"><div class="navbar-header"><div class="nav-left-wrapper u-mt0x"><div class="nav-logo"><a data-main-header-link-target="logo_home" href="https://www.academia.edu/"><img class="visible-xs-inline-block" style="height: 24px;" alt="Academia.edu" src="//a.academia-assets.com/images/academia-logo-redesign-2015-A.svg" width="24" height="24" /><img width="145.2" height="18" class="hidden-xs" style="height: 24px;" alt="Academia.edu" src="//a.academia-assets.com/images/academia-logo-redesign-2015.svg" /></a></div><div class="nav-search"><div class="SiteSearch-wrapper select2-no-default-pills"><form class="js-SiteSearch-form DesignSystem" action="https://www.academia.edu/search" accept-charset="UTF-8" method="get"><i class="SiteSearch-icon fa fa-search u-fw700 u-positionAbsolute u-tcGrayDark"></i><input class="js-SiteSearch-form-input SiteSearch-form-input form-control" data-main-header-click-target="search_input" name="q" placeholder="Search" type="text" value="" /></form></div></div></div><div class="nav-right-wrapper pull-right"><ul class="NavLinks js-main-nav list-unstyled"><li class="NavLinks-link"><a class="js-header-login-url Button Button--inverseGray Button--sm u-mb4x" id="nav_log_in" rel="nofollow" href="https://www.academia.edu/login">Log In</a></li><li class="NavLinks-link u-p0x"><a class="Button Button--inverseGray Button--sm u-mb4x" rel="nofollow" href="https://www.academia.edu/signup">Sign Up</a></li></ul><button class="hidden-lg hidden-md hidden-sm u-ml4x navbar-toggle collapsed" data-target=".js-mobile-header-links" data-toggle="collapse" type="button"><span class="icon-bar"></span><span class="icon-bar"></span><span class="icon-bar"></span></button></div></div><div class="collapse navbar-collapse js-mobile-header-links"><ul class="nav navbar-nav"><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/login">Log In</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/signup">Sign Up</a></li><li class="u-borderColorGrayLight u-borderBottom1 js-mobile-nav-expand-trigger"><a href="#">more&nbsp<span class="caret"></span></a></li><li><ul class="js-mobile-nav-expand-section nav navbar-nav u-m0x collapse"><li class="u-borderColorGrayLight u-borderBottom1"><a rel="false" href="https://www.academia.edu/about">About</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/press">Press</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="false" href="https://www.academia.edu/documents">Papers</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/terms">Terms</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/privacy">Privacy</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/copyright">Copyright</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://www.academia.edu/hiring"><i class="fa fa-briefcase"></i> We're Hiring!</a></li><li class="u-borderColorGrayLight u-borderBottom1"><a rel="nofollow" href="https://support.academia.edu/hc/en-us"><i class="fa fa-question-circle"></i> Help Center</a></li><li class="js-mobile-nav-collapse-trigger u-borderColorGrayLight u-borderBottom1 dropup" style="display:none"><a href="#">less&nbsp<span class="caret"></span></a></li></ul></li></ul></div></div></div><script>(function(){ var $moreLink = $(".js-mobile-nav-expand-trigger"); var $lessLink = $(".js-mobile-nav-collapse-trigger"); var $section = $('.js-mobile-nav-expand-section'); $moreLink.click(function(ev){ ev.preventDefault(); $moreLink.hide(); $lessLink.show(); $section.collapse('show'); }); $lessLink.click(function(ev){ ev.preventDefault(); $moreLink.show(); $lessLink.hide(); $section.collapse('hide'); }); })() if ($a.is_logged_in() || false) { new Aedu.NavigationController({ el: '.js-main-nav', showHighlightedNotification: false }); } else { $(".js-header-login-url").attr("href", $a.loginUrlWithRedirect()); } Aedu.autocompleteSearch = new AutocompleteSearch({el: '.js-SiteSearch-form'});</script></div></div> <div id='site' class='fixed'> <div id="content" class="clearfix"> <script>document.addEventListener('DOMContentLoaded', function(){ var $dismissible = $(".dismissible_banner"); $dismissible.click(function(ev) { $dismissible.hide(); }); });</script> <script src="//a.academia-assets.com/assets/webpack_bundles/profile.wjs-bundle-091a194a2533e53e1630c5cfd78813a4445aff73d16c70cdba1eafe8c0939f4a.js" defer="defer"></script><script>$viewedUser = Aedu.User.set_viewed( {"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","photo":"https://0.academia-photos.com/169217/30307515/71227940/s65_kabir.hassan.jpg","has_photo":true,"department":{"id":78104,"name":"Economics and Finance","url":"https://uno.academia.edu/Departments/Economics_and_Finance/Documents","university":{"id":1980,"name":"University of New Orleans","url":"https://uno.academia.edu/"}},"position":"Faculty Member","position_id":1,"is_analytics_public":false,"interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":109068,"name":"Financial Institutions and Markets","url":"https://www.academia.edu/Documents/in/Financial_Institutions_and_Markets"},{"id":7292,"name":"Corporate Finance","url":"https://www.academia.edu/Documents/in/Corporate_Finance"},{"id":25116,"name":"International Finance","url":"https://www.academia.edu/Documents/in/International_Finance"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":256944,"name":"Islamic Banking and Finance/Islamic Economics","url":"https://www.academia.edu/Documents/in/Islamic_Banking_and_Finance_Islamic_Economics"}]} ); if ($a.is_logged_in() && $viewedUser.is_current_user()) { $('body').addClass('profile-viewed-by-owner'); } $socialProfiles = []</script><div id="js-react-on-rails-context" style="display:none" data-rails-context="{"inMailer":false,"i18nLocale":"en","i18nDefaultLocale":"en","href":"https://uno.academia.edu/KabirHassan","location":"/KabirHassan","scheme":"https","host":"uno.academia.edu","port":null,"pathname":"/KabirHassan","search":null,"httpAcceptLanguage":null,"serverSide":false}"></div> <div class="js-react-on-rails-component" style="display:none" data-component-name="ProfileCheckPaperUpdate" data-props="{}" data-trace="false" data-dom-id="ProfileCheckPaperUpdate-react-component-8db8641c-157a-4006-bb11-fcc9256c8e71"></div> <div id="ProfileCheckPaperUpdate-react-component-8db8641c-157a-4006-bb11-fcc9256c8e71"></div> <div class="DesignSystem"><div class="onsite-ping" id="onsite-ping"></div></div><div class="profile-user-info DesignSystem"><div class="social-profile-container"><div class="left-panel-container"><div class="user-info-component-wrapper"><div class="user-summary-cta-container"><div class="user-summary-container"><div class="social-profile-avatar-container"><img class="profile-avatar u-positionAbsolute" alt="Kabir Hassan" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/169217/30307515/71227940/s200_kabir.hassan.jpg" /></div><div class="title-container"><h1 class="ds2-5-heading-sans-serif-sm">Kabir Hassan</h1><div class="affiliations-container fake-truncate js-profile-affiliations"><div><a class="u-tcGrayDarker" href="https://uno.academia.edu/">University of New Orleans</a>, <a class="u-tcGrayDarker" href="https://uno.academia.edu/Departments/Economics_and_Finance/Documents">Economics and Finance</a>, <span class="u-tcGrayDarker">Faculty Member</span></div></div></div></div><div class="sidebar-cta-container"><button class="ds2-5-button hidden profile-cta-button grow js-profile-follow-button" data-broccoli-component="user-info.follow-button" data-click-track="profile-user-info-follow-button" data-follow-user-fname="Kabir" data-follow-user-id="169217" data-follow-user-source="profile_button" data-has-google="false"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">add</span>Follow</button><button class="ds2-5-button hidden profile-cta-button grow js-profile-unfollow-button" data-broccoli-component="user-info.unfollow-button" data-click-track="profile-user-info-unfollow-button" data-unfollow-user-id="169217"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">done</span>Following</button></div></div><div class="user-stats-container"><a><div class="stat-container js-profile-followers"><p class="label">Followers</p><p class="data">105,668</p></div></a><a><div class="stat-container js-profile-followees" data-broccoli-component="user-info.followees-count" data-click-track="profile-expand-user-info-following"><p class="label">Following</p><p class="data">40</p></div></a><a><div class="stat-container js-profile-coauthors" data-broccoli-component="user-info.coauthors-count" data-click-track="profile-expand-user-info-coauthors"><p class="label">Co-authors</p><p class="data">13</p></div></a><span><div class="stat-container"><p class="label"><span class="js-profile-total-view-text">Public Views</span></p><p class="data"><span class="js-profile-view-count"></span></p></div></span></div><div class="user-bio-container"><div class="profile-bio fake-truncate js-profile-about" style="margin: 0px;">Professor Dr. M. Kabir Hassan is a financial economist with consulting, research and teaching experiences in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics and international trade and finance. He provided consulting services to the World Bank (WB), International Monetary Fund (IMF), Islamic Development Bank (IDB), African Development Bank (AfDB), USAID, Government of Bangladesh, Organization of Islamic Conferences (OIC), Federal Reserve Bank, USA, and many corporations, private organizations and universities around the world. <br />Dr. Hassan is the Full Professor of Finance and Hibernia Professor of Economics and Finance and Bank One Professor in Business in the Department of Economics and Finance at the University of New Orleans, Louisiana, USA. Professor Hassan is the winner of the 2016 IDB Prize in Islamic Banking and Finance. He has also received 2019 University of Louisiana System Outstanding Faculty Member Award, 2019 UNO Research, Creativity and Scholarly Career Award and 2018 UNO Gordon H “Nick” Mueller International Leadership Medallion. <br />Dr. Hassan is the editor/co-editor of four Islamic Banking and Finance Journals. He has more than 329 papers published/forthcoming in refereed academic journals to his credit. He has supervised 62 doctoral theses and acted as External examiners for 49 dissertations, and many of his students are now well placed in the academia, government and private sectors. <br />Dr. Hassan has edited and published several books and 4 books are forthcoming in 2019 on the topics of emerging issues in Islamic finance in Malaysia and Islamic corporate finance. <br />A frequent traveler, Dr. Hassan gives lectures and workshops in the US and abroad, and has presented over 408 research papers at professional conferences and has delivered 184 invited papers/seminars. Dr. Hassan is the current President of Southwest Finance Association (SWFA) Meetings.<br /><div class="js-profile-less-about u-linkUnstyled u-tcGrayDarker u-textDecorationUnderline u-displayNone">less</div></div></div><div class="suggested-academics-container"><div class="suggested-academics--header"><h3 class="ds2-5-heading-sans-serif-xs">Related Authors</h3></div><ul class="suggested-user-card-list" data-nosnippet="true"><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://ewubd.academia.edu/NikhilChandraShilFCMA"><img class="profile-avatar u-positionAbsolute" alt="Nikhil Chandra Shil, FCMA related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/43585/14025/13122/s200_nikhil.chandra_shil_fcma.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://ewubd.academia.edu/NikhilChandraShilFCMA">Nikhil Chandra Shil, FCMA</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">East West University</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://manchester.academia.edu/VincenzoBavoso"><img class="profile-avatar u-positionAbsolute" alt="Vincenzo Bavoso related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/69858/19542/1092076/s200_vincenzo.bavoso.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://manchester.academia.edu/VincenzoBavoso">Vincenzo Bavoso</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">The University of Manchester</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://unitn.academia.edu/ValerioSangiovanni"><img class="profile-avatar u-positionAbsolute" alt="Valerio Sangiovanni related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/125143/33438/56211/s200_valerio.sangiovanni.125143" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://unitn.academia.edu/ValerioSangiovanni">Valerio Sangiovanni</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">University of Trento</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://cria.academia.edu/ArmandoMarquesGuedes"><img class="profile-avatar u-positionAbsolute" alt="Armando Marques-Guedes related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/134181/3401094/148494125/s200_armando.marques-guedes.png" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://cria.academia.edu/ArmandoMarquesGuedes">Armando Marques-Guedes</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">UNL - New University of Lisbon</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://hecparis.academia.edu/MatteoWinkler"><img class="profile-avatar u-positionAbsolute" alt="Matteo Winkler related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/277114/67992/33445481/s200_matteo.winkler.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://hecparis.academia.edu/MatteoWinkler">Matteo Winkler</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">HEC Paris</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://utexas.academia.edu/HarryCleaver"><img class="profile-avatar u-positionAbsolute" alt="Harry Cleaver related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/315661/2699812/3142937/s200_harry.cleaver.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://utexas.academia.edu/HarryCleaver">Harry Cleaver</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">The University of Texas at Austin</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://punjablahorepakistan.academia.edu/ShabibSyed"><img class="profile-avatar u-positionAbsolute" alt="Shabib H . Syed related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/499382/8484793/129343327/s200_shabib.syed.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://punjablahorepakistan.academia.edu/ShabibSyed">Shabib H . Syed</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">University of the Punjab, Lahore, Pakistan</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://uinjkt.academia.edu/AliRama"><img class="profile-avatar u-positionAbsolute" alt="Ali Rama related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/1061867/366890/26468059/s200_ali.rama.png" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://uinjkt.academia.edu/AliRama">Ali Rama</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">Syarif Hidayatullah State Islamic University, Jakarta</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://science.academia.edu/Elchin"><img class="profile-avatar u-positionAbsolute" alt="ELCHİN SULEYMANOV related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/1146779/403811/17527627/s200_elchin.suleymanov.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://science.academia.edu/Elchin">ELCHİN SULEYMANOV</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">Azerbaijan National Academy of Sciences</p></div></div><div class="suggested-user-card"><div class="suggested-user-card__avatar social-profile-avatar-container"><a data-nosnippet="" href="https://unair.academia.edu/ShochrulRohma"><img class="profile-avatar u-positionAbsolute" alt="Shochrul Rohma related author profile picture" border="0" onerror="if (this.src != '//a.academia-assets.com/images/s200_no_pic.png') this.src = '//a.academia-assets.com/images/s200_no_pic.png';" width="200" height="200" src="https://0.academia-photos.com/3601284/1256122/13750376/s200_shochrul.rohma.jpg" /></a></div><div class="suggested-user-card__user-info"><a class="suggested-user-card__user-info__header ds2-5-body-sm-bold ds2-5-body-link" href="https://unair.academia.edu/ShochrulRohma">Shochrul Rohma</a><p class="suggested-user-card__user-info__subheader ds2-5-body-xs">Universitas Airlangga</p></div></div></ul></div><style type="text/css">.suggested-academics--header h3{font-size:16px;font-weight:500;line-height:20px}</style><div class="ri-section"><div class="ri-section-header"><span>Interests</span></div><div class="ri-tags-container"><a data-click-track="profile-user-info-expand-research-interests" data-has-card-for-ri-list="169217" href="https://www.academia.edu/Documents/in/Economics"><div id="js-react-on-rails-context" style="display:none" data-rails-context="{"inMailer":false,"i18nLocale":"en","i18nDefaultLocale":"en","href":"https://uno.academia.edu/KabirHassan","location":"/KabirHassan","scheme":"https","host":"uno.academia.edu","port":null,"pathname":"/KabirHassan","search":null,"httpAcceptLanguage":null,"serverSide":false}"></div> <div class="js-react-on-rails-component" style="display:none" data-component-name="Pill" data-props="{"color":"gray","children":["Economics"]}" data-trace="false" data-dom-id="Pill-react-component-af23cd23-b9ba-4fa0-a1b6-72b39e5f5a91"></div> <div id="Pill-react-component-af23cd23-b9ba-4fa0-a1b6-72b39e5f5a91"></div> </a><a data-click-track="profile-user-info-expand-research-interests" data-has-card-for-ri-list="169217" href="https://www.academia.edu/Documents/in/Financial_Institutions_and_Markets"><div class="js-react-on-rails-component" style="display:none" data-component-name="Pill" data-props="{"color":"gray","children":["Financial Institutions and Markets"]}" data-trace="false" data-dom-id="Pill-react-component-dc80e8ac-1122-40d6-bf2d-84dfdeb94a9e"></div> <div id="Pill-react-component-dc80e8ac-1122-40d6-bf2d-84dfdeb94a9e"></div> </a><a data-click-track="profile-user-info-expand-research-interests" data-has-card-for-ri-list="169217" href="https://www.academia.edu/Documents/in/Applied_Economics"><div class="js-react-on-rails-component" style="display:none" data-component-name="Pill" data-props="{"color":"gray","children":["Applied Economics"]}" data-trace="false" data-dom-id="Pill-react-component-71b93745-f8f7-4602-a829-09ba24ee2161"></div> <div id="Pill-react-component-71b93745-f8f7-4602-a829-09ba24ee2161"></div> </a><a data-click-track="profile-user-info-expand-research-interests" data-has-card-for-ri-list="169217" href="https://www.academia.edu/Documents/in/Islamic_Banking_and_Finance_Islamic_Economics"><div class="js-react-on-rails-component" style="display:none" data-component-name="Pill" data-props="{"color":"gray","children":["Islamic Banking and Finance/Islamic Economics"]}" data-trace="false" data-dom-id="Pill-react-component-8d52b7bb-de30-4651-9358-65f47f1e83c7"></div> <div id="Pill-react-component-8d52b7bb-de30-4651-9358-65f47f1e83c7"></div> </a></div></div><div class="external-links-container"><ul class="profile-links new-profile js-UserInfo-social"><li><a class="ds2-5-text-link ds2-5-text-link--small" href="https://kabirhassan.academia.edu/"><span class="ds2-5-text-link__content"><i class="fa fa-laptop"></i></span></a></li><li class="profile-profiles js-social-profiles-container"><i class="fa fa-spin fa-spinner"></i></li></ul></div></div></div><div class="right-panel-container"><div class="user-content-wrapper"><div class="uploads-container" id="social-redesign-work-container"><div class="upload-header"><h2 class="ds2-5-heading-sans-serif-xs">Uploads</h2></div><div class="nav-container backbone-profile-documents-nav hidden-xs"><ul class="nav-tablist" role="tablist"><li class="nav-chip active" role="presentation"><a data-section-name="" data-toggle="tab" href="#all" role="tab">all</a></li><li class="nav-chip" role="presentation"><a class="js-profile-docs-nav-section u-textTruncate" data-click-track="profile-works-tab" data-section-name="Papers" data-toggle="tab" href="#papers" role="tab" title="Papers"><span>415</span> <span class="ds2-5-body-sm-bold">Papers</span></a></li><li class="nav-chip" role="presentation"><a class="js-profile-docs-nav-section u-textTruncate" data-click-track="profile-works-tab" data-section-name="Books" data-toggle="tab" href="#books" role="tab" title="Books"><span>11</span> <span class="ds2-5-body-sm-bold">Books</span></a></li><li class="nav-chip" role="presentation"><a class="js-profile-docs-nav-section u-textTruncate" data-click-track="profile-works-tab" data-section-name="Book-Chapters" data-toggle="tab" href="#bookchapters" role="tab" title="Book Chapters"><span>54</span> <span class="ds2-5-body-sm-bold">Book Chapters</span></a></li></ul></div><div class="divider ds-divider-16" style="margin: 0px;"></div><div class="documents-container backbone-social-profile-documents" style="width: 100%;"><div class="u-taCenter"></div><div class="profile--tab_content_container js-tab-pane tab-pane active" id="all"><div class="profile--tab_heading_container js-section-heading" data-section="Papers" id="Papers"><h3 class="profile--tab_heading_container">Papers by Kabir Hassan</h3></div><div class="js-work-strip profile--work_container" data-work-id="128304594"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/128304594/Islamic_Capital_Markets"><img alt="Research paper thumbnail of Islamic Capital Markets" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islamic Capital Markets</div><div class="wp-workCard_item"><span>The Influence of Islam on Banking and Finance</span><span>, 2014</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="128304594"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="128304594"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 128304594; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=128304594]").text(description); $(".js-view-count[data-work-id=128304594]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 128304594; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='128304594']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=128304594]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":128304594,"title":"Islamic Capital Markets","translated_title":"","metadata":{"publisher":"Nomos","publication_date":{"day":null,"month":null,"year":2014,"errors":{}},"publication_name":"The Influence of Islam on Banking and Finance"},"translated_abstract":null,"internal_url":"https://www.academia.edu/128304594/Islamic_Capital_Markets","translated_internal_url":"","created_at":"2025-03-19T07:49:31.349-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Islamic_Capital_Markets","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-128304594-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940070"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance"><img alt="Research paper thumbnail of The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance" class="work-thumbnail" src="https://attachments.academia-assets.com/116704754/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance">The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance</a></div><div class="wp-workCard_item"><span>ISRA International Journal of Islamic Finance</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The most salient values of the Islamic financial system are fairness and socio-economic justice. ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="42e3c129855acbd084bb80809b3e07ff" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704754,"asset_id":121940070,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704754/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940070"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940070"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940070; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940070]").text(description); $(".js-view-count[data-work-id=121940070]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940070; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940070']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "42e3c129855acbd084bb80809b3e07ff" } } $('.js-work-strip[data-work-id=121940070]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940070,"title":"The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance","translated_title":"","metadata":{"abstract":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","publisher":"International Centre for Education in Islamic Finance","ai_title_tag":"Islamic Finance: Risk Management \u0026 Social Justice","publication_name":"ISRA International Journal of Islamic Finance"},"translated_abstract":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","internal_url":"https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance","translated_internal_url":"","created_at":"2024-07-10T10:20:49.197-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704754,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704754/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704754/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704754/54-libre.pdf?1720632942=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=e6oSdhG9gtNYhfPv8DN4Fkbd1i2gM4zan76iwDy6fiQUfqakiXTuTkpRv7jOnscwa0r6N38O0yNmHf624GdUvA5xqBeozEP7ubwiYyNLILUb~G73idu3l071OPjgfpm-hZRxTlriPO6XSq-udubqvV67wVa3pikGlXcRruGt3rV5gE4oLrWlo3nnt35h36vc-mOk6mYR6UP9S-pvnnHnOiIv6d0mhLnIJUw256quO5CV9Fu1fbhEsl98j2lu745jNMQrZR2NHW5gpKKw4TIvgmTUr6hTcWjqb1bBPKfbl3oU81HCNDiIbpCC~8k4Ig~Rtf-QVUKdog5He2rS0hwiXg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance","translated_slug":"","page_count":26,"language":"en","content_type":"Work","summary":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"MjM2QnpPeGs1YVMwdHV4bHFzdDRPcnFEYkZBTHJJdzNlZW9pejhpT2RJRT0tLUxrckgrd1RQZ0xwTEluamNuc0NoNXc9PQ==--09e2513ddae2481eae493bcbc6b8bde23788cd20"},"attachments":[{"id":116704754,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704754/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704754/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704754/54-libre.pdf?1720632942=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=e6oSdhG9gtNYhfPv8DN4Fkbd1i2gM4zan76iwDy6fiQUfqakiXTuTkpRv7jOnscwa0r6N38O0yNmHf624GdUvA5xqBeozEP7ubwiYyNLILUb~G73idu3l071OPjgfpm-hZRxTlriPO6XSq-udubqvV67wVa3pikGlXcRruGt3rV5gE4oLrWlo3nnt35h36vc-mOk6mYR6UP9S-pvnnHnOiIv6d0mhLnIJUw256quO5CV9Fu1fbhEsl98j2lu745jNMQrZR2NHW5gpKKw4TIvgmTUr6hTcWjqb1bBPKfbl3oU81HCNDiIbpCC~8k4Ig~Rtf-QVUKdog5He2rS0hwiXg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704755,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704755/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704755/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704755/54-libre.pdf?1720632938=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=WVkaJgsQlVxpVPp1PdfLht3Z~Bs2MeDeyRj9TjF7LxoYzHUxSZPc4QgMeBvRS7aNbozlZ7w1HNAmw0raoxButH9-YyAkJAJoxEDkFc7eLQ2aHp~TsVxPwwJ8PQ~XV8QraWUO~7EZ0n7tIVGSyDxwQL3eVJZLYcWm~UGaAvxElwo8l8MjFj3SvAeRCRPl876TlRIK9~-xE4XFy~DJQ1dPvicnEyYATTt8XKAKCfLTKmE4~VLS8eOZOiuuRgrxYtftZrowduPUpcdKPBOFvkpJQbCckWZov66V-pDcn1bnxLSQ0USdXM6919ABZALS72wfE9edhQOH8DI95S8bb-JrXA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[{"id":43462344,"url":"https://journal.inceif.org/index.php/ijif/article/download/63/54"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940070-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940069"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks"><img alt="Research paper thumbnail of Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks" class="work-thumbnail" src="https://attachments.academia-assets.com/116704753/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks">Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks</a></div><div class="wp-workCard_item"><span>International Journal of Business and Society</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study comparatively analyses the financial stability of Islamic and conventional banks in Pa...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c55e0089d2c6bbf4fa2a0f5f200615a6" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704753,"asset_id":121940069,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704753/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940069"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940069"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940069; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940069]").text(description); $(".js-view-count[data-work-id=121940069]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940069; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940069']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c55e0089d2c6bbf4fa2a0f5f200615a6" } } $('.js-work-strip[data-work-id=121940069]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940069,"title":"Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks","translated_title":"","metadata":{"abstract":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","publisher":"UNIMAS Publisher","ai_title_tag":"Competition-Stability in Pakistan's Banks","publication_name":"International Journal of Business and Society"},"translated_abstract":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","internal_url":"https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks","translated_internal_url":"","created_at":"2024-07-10T10:20:48.910-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704753,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704753/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704753/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704753/1365-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=TwhrPENF1AhxN6knHKNCz~nendtHlzJCWjqOSmMF6IYTNMCHUyiJzkkFvTCAf2ssqOiTsNX6LU-mFfOv-7CkvsjkTdR0oU7ah6wvlaz8WF6qDVt7P-GkFYk8KcpHREa75kGoXhdc-DPVxnKlvTVou4SkoZ5fnRmBumZhHY4g-8X5Aq8O4Vhdo62Oxd9t7kvTcEkkZYU-heJffz9NzErNugIO4yA5itaN6cQYrvnMbdQGglsageR3v1BzGChib-9RA0tmU8EROi5sAXC77uFYXRD9ygXKe2ORmRA2IRj1p8BRTymbYxA3BdCJn0JqUfsFq1n-UPRRmvkztxXFKA-rNg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks","translated_slug":"","page_count":14,"language":"en","content_type":"Work","summary":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704753,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704753/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704753/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704753/1365-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=TwhrPENF1AhxN6knHKNCz~nendtHlzJCWjqOSmMF6IYTNMCHUyiJzkkFvTCAf2ssqOiTsNX6LU-mFfOv-7CkvsjkTdR0oU7ah6wvlaz8WF6qDVt7P-GkFYk8KcpHREa75kGoXhdc-DPVxnKlvTVou4SkoZ5fnRmBumZhHY4g-8X5Aq8O4Vhdo62Oxd9t7kvTcEkkZYU-heJffz9NzErNugIO4yA5itaN6cQYrvnMbdQGglsageR3v1BzGChib-9RA0tmU8EROi5sAXC77uFYXRD9ygXKe2ORmRA2IRj1p8BRTymbYxA3BdCJn0JqUfsFq1n-UPRRmvkztxXFKA-rNg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704752,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704752/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704752/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704752/1365-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=ACZNjvKgiVfsb6FXDRfJy~BRBEgIboZuI0SB~q5I-VxgeosBPoq~a65AiGXnc4Dv6c97~01zMkpS-CwVEfXJA0rZSGh4qQDD2ftVkjTQws5sPlbeXUYqrjyO1bxxnks1vKXDy8nkHVEaSxZTP4L3sqqur6Y~-66qDP6sVT7QooW3-Oyy0G65wzggSB7uryQaGx1pWUwvXggDmt37w3SCUIgHSiWKA7IXjLZaeObMHoR7uem8-SC-MwEY9uwXumNzYNgh2ojfwBGcyauk9IIhM76myD-REM81hG-qanWrQyrmoUP0MMHye1wg8NSSe-S~ZAlqUgNLG4cHt2cgkEAnvA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"},{"id":321297,"name":"Market Power","url":"https://www.academia.edu/Documents/in/Market_Power"},{"id":321298,"name":"Lerner index","url":"https://www.academia.edu/Documents/in/Lerner_index"},{"id":1885571,"name":"Business Society","url":"https://www.academia.edu/Documents/in/Business_Society"}],"urls":[{"id":43462343,"url":"https://publisher.unimas.my/ojs/index.php/IJBS/article/download/3733/1365"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940069-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940068"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model"><img alt="Research paper thumbnail of Application of a distributed verification in Islamic microfinance institutions: a sustainable model" class="work-thumbnail" src="https://attachments.academia-assets.com/116704750/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model">Application of a distributed verification in Islamic microfinance institutions: a sustainable model</a></div><div class="wp-workCard_item"><span>Financial Innovation</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The literature gap in microfinance paradox of double bottom line (financial performance vs. outre...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="4af0048f607d250f75137ce31cdf9378" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704750,"asset_id":121940068,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704750/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940068"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940068"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940068; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940068]").text(description); $(".js-view-count[data-work-id=121940068]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940068; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940068']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "4af0048f607d250f75137ce31cdf9378" } } $('.js-work-strip[data-work-id=121940068]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940068,"title":"Application of a distributed verification in Islamic microfinance institutions: a sustainable model","translated_title":"","metadata":{"abstract":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","publisher":"Springer Science and Business Media LLC","ai_title_tag":"Distributed Verification in Sustainable Islamic Microfinance","publication_name":"Financial Innovation"},"translated_abstract":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","internal_url":"https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model","translated_internal_url":"","created_at":"2024-07-10T10:20:48.656-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704750,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704750/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704750/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704750/s40854-022-00384-z-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=Nds2DrjBsUOMF9gG19U7Lfd89Xbh0klj21a1Zy~SxvsHQ~nYYDi4EjdNjkDjTpJE-quC7QY9JW7WpVCu5qpwVq6wi55qiK8OhV1bjnqv4RLQVrTdDwngLVQauRoExoMfKQdGeWXofx11q~Q9z3YYR2~~K-BHe3P2gv2EgnbnHTnFL1gQh4GGL1UZG3MywQGK3vLIjxelokRDovFa646GzeS06Ba-xV76Jfb~NCo2c5nn2~vxf9StcpPfkh4oOodxeKabKwjgkG2EefcQpxv4thj0V2WulRDXDnGFk9x1UcI8rsO2oGH80iZJfVG43q4E6sGIAryrqgv~w9tEu7n0ng__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704750,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704750/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704750/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704750/s40854-022-00384-z-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=Nds2DrjBsUOMF9gG19U7Lfd89Xbh0klj21a1Zy~SxvsHQ~nYYDi4EjdNjkDjTpJE-quC7QY9JW7WpVCu5qpwVq6wi55qiK8OhV1bjnqv4RLQVrTdDwngLVQauRoExoMfKQdGeWXofx11q~Q9z3YYR2~~K-BHe3P2gv2EgnbnHTnFL1gQh4GGL1UZG3MywQGK3vLIjxelokRDovFa646GzeS06Ba-xV76Jfb~NCo2c5nn2~vxf9StcpPfkh4oOodxeKabKwjgkG2EefcQpxv4thj0V2WulRDXDnGFk9x1UcI8rsO2oGH80iZJfVG43q4E6sGIAryrqgv~w9tEu7n0ng__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704749,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704749/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704749/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704749/s40854-022-00384-z-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=PinC7j6TXnUtiGHYyi-5u2bGrDQY3Qq4FUg7~kzGKlQ4b5~BbfM6rdcg1WDvGHdz~F00COnpxCAfQqpjSuuq0OqEsFj3G6rtLVXDJbcFX7cmoCTJ5-5-SZlWrKxtEuc6kaDQwLepg-TFO4xsq0wKCZN8XB1syHEPFcvLASaiJkDHANI8MNdtmthJxbloq~mausPO-sOxMxItVXYFdpKHk598topJKKrSdhWMCCiupuRFTy-FbbxO7Qt1bNWnp-SnHpY~LEaE-2d07ZJvp4i6te0oodyqJUutCAXBol9psktA5ZHmNRbt2ZguiTGKWhG6o0R9h6u2fwZxi-MUzyZFuw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":5756,"name":"Microfinance","url":"https://www.academia.edu/Documents/in/Microfinance"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":79360,"name":"Financial Innovation","url":"https://www.academia.edu/Documents/in/Financial_Innovation"},{"id":299329,"name":"Outreach","url":"https://www.academia.edu/Documents/in/Outreach"},{"id":967457,"name":"Collateral","url":"https://www.academia.edu/Documents/in/Collateral"},{"id":1006340,"name":"Credit Rationing","url":"https://www.academia.edu/Documents/in/Credit_Rationing"}],"urls":[{"id":43462342,"url":"https://link.springer.com/content/pdf/10.1186/s40854-022-00384-z.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940068-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940067"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic"><img alt="Research paper thumbnail of Banks’ financial soundness during the COVID-19 pandemic" class="work-thumbnail" src="https://attachments.academia-assets.com/116704748/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic">Banks’ financial soundness during the COVID-19 pandemic</a></div><div class="wp-workCard_item"><span>Journal of Economics and Finance</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced sig...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="5d574b1736ba1c66b87073d8aef71491" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704748,"asset_id":121940067,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704748/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940067"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940067"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940067; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940067]").text(description); $(".js-view-count[data-work-id=121940067]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940067; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940067']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "5d574b1736ba1c66b87073d8aef71491" } } $('.js-work-strip[data-work-id=121940067]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940067,"title":"Banks’ financial soundness during the COVID-19 pandemic","translated_title":"","metadata":{"publisher":"Springer Science and Business Media LLC","ai_title_tag":"Bank Stability Risks Amid COVID-19","grobid_abstract":"Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.","publication_name":"Journal of Economics and Finance","grobid_abstract_attachment_id":116704748},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic","translated_internal_url":"","created_at":"2024-07-10T10:20:48.433-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704748,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704748/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704748/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704748/s12197-022-09591-x-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=dVoCvNRMvRKO0W~Pz~AY8FwvwhAGMLgjlbSHcEnniLBY~141BgixRr9MCPXJryF5zT~FsUnV9Hy7pIxQF6cUH-VEkmqmFF~sfAuiy2ejP5MLmtkAxWmUyDMpXAGuVzJxozQ~xdZrcLwre6puCWHmq1PC6uU9lujPONR~jgtoYl4bHl8gS8QUGUYE6aJZQHOBF1t8IQjX3q~CFF6K524IkJBjD2wc1m473zHC0aLUMHDC5nU6G5UAlHMT28qfomVEuhOCh9oPGbom791k6hGQ0XEgNe86Qk8WJK6rHSTwHC8mQYSXhMP-u55dpP6l56t21iOgHHbYcAnZ2jywBC~gJA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Banks_financial_soundness_during_the_COVID_19_pandemic","translated_slug":"","page_count":23,"language":"en","content_type":"Work","summary":"Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"SHpBUWNDRUlBYWM3cnRzY3NVby90VUFqcHVMdWZQb29WMEZmdWNQa2VmZz0tLW9ITW5LdWNsU294UHZkeVJhNmRYMUE9PQ==--0abde0c5d54ed10dd9a918b9cda0665560179cc5"},"attachments":[{"id":116704748,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704748/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704748/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704748/s12197-022-09591-x-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=dVoCvNRMvRKO0W~Pz~AY8FwvwhAGMLgjlbSHcEnniLBY~141BgixRr9MCPXJryF5zT~FsUnV9Hy7pIxQF6cUH-VEkmqmFF~sfAuiy2ejP5MLmtkAxWmUyDMpXAGuVzJxozQ~xdZrcLwre6puCWHmq1PC6uU9lujPONR~jgtoYl4bHl8gS8QUGUYE6aJZQHOBF1t8IQjX3q~CFF6K524IkJBjD2wc1m473zHC0aLUMHDC5nU6G5UAlHMT28qfomVEuhOCh9oPGbom791k6hGQ0XEgNe86Qk8WJK6rHSTwHC8mQYSXhMP-u55dpP6l56t21iOgHHbYcAnZ2jywBC~gJA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704751,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704751/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704751/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704751/s12197-022-09591-x-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=Oa9j~-uAyIFKhKwkUqVuY0Kj3zlJ9SYMeKIzsl0JfX-QEf3IzokIrqy7vlbYBwP6CKVb65Kq6r1YAgGxsjZqM0UyrLvSUlVYLdd4Q3phk1oGaSN72e~50uekCSuF3k3hB7cvz7X7gxI2wWIhZhI6pFwJCWo1DXDOajndF8SPjFH64f2aUauP18Uu5DhOtdNgEj-Q9FVQ3InXf4vR0R6UwTGeXUfI3B5Oy1Vj8hXcEfp1HCoWzvrR51FfaglCjWeYwKghDnXs5sVt-GqLJW4EGHRAYHiN1WkkgdUly1NtzEdKu2NYfZZCnAVdkcAaDi2UvLr1ee9SNK2J4Eg1wzh2og__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":88182,"name":"Loan","url":"https://www.academia.edu/Documents/in/Loan"},{"id":418456,"name":"Economics Finance","url":"https://www.academia.edu/Documents/in/Economics_Finance-2"},{"id":732336,"name":"Endogeneity","url":"https://www.academia.edu/Documents/in/Endogeneity"},{"id":1028827,"name":"Pandemic","url":"https://www.academia.edu/Documents/in/Pandemic"},{"id":1865378,"name":"SOUNDNESS","url":"https://www.academia.edu/Documents/in/SOUNDNESS"},{"id":3079413,"name":"Finance and Investment Banking Area","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking_Area"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"},{"id":3686510,"name":"Coronavirus Disease 2019 (COVID-19)","url":"https://www.academia.edu/Documents/in/Coronavirus_Disease_2019_COVID-19_"}],"urls":[{"id":43462341,"url":"https://link.springer.com/content/pdf/10.1007/s12197-022-09591-x.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940067-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940066"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I"><img alt="Research paper thumbnail of Revitalization of Waqf for Socio-Economic Development, Volume I" class="work-thumbnail" src="https://attachments.academia-assets.com/116704789/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I">Revitalization of Waqf for Socio-Economic Development, Volume I</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The use of general descriptive names, registered names, trademarks, service marks, etc. in this p...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="e62a1211e3951c3af84f97919fcb987b" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704789,"asset_id":121940066,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704789/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940066"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940066"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940066; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940066]").text(description); $(".js-view-count[data-work-id=121940066]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940066; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940066']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "e62a1211e3951c3af84f97919fcb987b" } } $('.js-work-strip[data-work-id=121940066]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940066,"title":"Revitalization of Waqf for Socio-Economic Development, Volume I","translated_title":"","metadata":{"publisher":"Springer International Publishing","ai_title_tag":"Waqf Revitalization for Socio-Economic Growth","grobid_abstract":"The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.","publication_date":{"day":null,"month":null,"year":2019,"errors":{}},"grobid_abstract_attachment_id":116704789},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_internal_url":"","created_at":"2024-07-10T10:20:48.212-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704789,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704789/thumbnails/1.jpg","file_name":"bfm_978-3-030-18445-2_2F1.pdf","download_url":"https://www.academia.edu/attachments/116704789/download_file","bulk_download_file_name":"Revitalization_of_Waqf_for_Socio_Economi.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704789/bfm_978-3-030-18445-2_2F1-libre.pdf?1720632912=\u0026response-content-disposition=attachment%3B+filename%3DRevitalization_of_Waqf_for_Socio_Economi.pdf\u0026Expires=1743026686\u0026Signature=NfLzpQx7Kz5R9hPsx~7ZX4o4qPlYjS4bERgLSw5nIfk5Mx3EEAZwDC8Y9nkJ2oVYpqC~VOQj7AcnNBeJRsSC--77o3ZIDOhUWws-hPC6tqajHmXXbuYo9FcjxqcE9JfHl9HtfG8NDGUcFuifBdMUYoxL6afM46PGc5kwMcteUCNvrHRZpDAIQCoITNeT1YIEkUP1oa2IIn6CdjdG-8qYxmQQJ9Eq6wtdzXI5dPiY4dEO1NPtDOuPh~fAtlEpNiwp-P~0zgbrw8ib~-SCODiiIO6T9fmk823FNDBmcjvt~N6eEhNnF8zN9ygY7zrGzzBV3UH0lsKtv3ipa834EvtUwQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_slug":"","page_count":26,"language":"en","content_type":"Work","summary":"The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704789,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704789/thumbnails/1.jpg","file_name":"bfm_978-3-030-18445-2_2F1.pdf","download_url":"https://www.academia.edu/attachments/116704789/download_file","bulk_download_file_name":"Revitalization_of_Waqf_for_Socio_Economi.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704789/bfm_978-3-030-18445-2_2F1-libre.pdf?1720632912=\u0026response-content-disposition=attachment%3B+filename%3DRevitalization_of_Waqf_for_Socio_Economi.pdf\u0026Expires=1743026686\u0026Signature=NfLzpQx7Kz5R9hPsx~7ZX4o4qPlYjS4bERgLSw5nIfk5Mx3EEAZwDC8Y9nkJ2oVYpqC~VOQj7AcnNBeJRsSC--77o3ZIDOhUWws-hPC6tqajHmXXbuYo9FcjxqcE9JfHl9HtfG8NDGUcFuifBdMUYoxL6afM46PGc5kwMcteUCNvrHRZpDAIQCoITNeT1YIEkUP1oa2IIn6CdjdG-8qYxmQQJ9Eq6wtdzXI5dPiY4dEO1NPtDOuPh~fAtlEpNiwp-P~0zgbrw8ib~-SCODiiIO6T9fmk823FNDBmcjvt~N6eEhNnF8zN9ygY7zrGzzBV3UH0lsKtv3ipa834EvtUwQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":2808,"name":"Poverty","url":"https://www.academia.edu/Documents/in/Poverty"},{"id":5756,"name":"Microfinance","url":"https://www.academia.edu/Documents/in/Microfinance"},{"id":114817,"name":"Waqf","url":"https://www.academia.edu/Documents/in/Waqf"},{"id":549007,"name":"Cash","url":"https://www.academia.edu/Documents/in/Cash"},{"id":683459,"name":"Socio Economic Status","url":"https://www.academia.edu/Documents/in/Socio_Economic_Status"},{"id":731240,"name":"Endowment","url":"https://www.academia.edu/Documents/in/Endowment"},{"id":995931,"name":"Waqf Studies: Concept","url":"https://www.academia.edu/Documents/in/Waqf_Studies_Concept"},{"id":1792858,"name":"Palgrave Macmillan","url":"https://www.academia.edu/Documents/in/Palgrave_Macmillan"},{"id":3647879,"name":"Springer Ebooks","url":"https://www.academia.edu/Documents/in/Springer_Ebooks"}],"urls":[{"id":43462340,"url":"http://link.springer.com/content/pdf/10.1007/978-3-030-18445-2.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940065"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better"><img alt="Research paper thumbnail of Esg Activities and Bank Efficiency: Are Islamic Banks Better?" class="work-thumbnail" src="https://attachments.academia-assets.com/116704788/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better">Esg Activities and Bank Efficiency: Are Islamic Banks Better?</a></div><div class="wp-workCard_item"><span>Journal of Islamic Monetary Economics and Finance</span><span>, 2022</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">In this paper, we investigate the differential impact of ESG activities on banks’ technical effic...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-121940065-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-121940065-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484464/figure-1-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484472/figure-2-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484479/figure-3-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484485/figure-4-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484489/table-1-however-since-our-research-objective-is-to-examine"><img alt="However, since our research objective is to examine the effect of ESG on the technical efficiency of both conventional and Islamic banks, we narrow dowr our sample and keep only those countries that have a formal Islamic finance and banking system. In particular, we have four MENA countries in our sample Kuwait, Qatar, Saudi Arabia, and United Arab Emirates (UAE). We generate « dummy variable D that is equal to 1 if a bank is originated from one of these fou: MENA countries, 0 otherwise. Further, we generate a dummy variable IB that i: equal to 1 if a bank’s specialization is reported as “Islamic bank”. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484493/table-1-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Table 1. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484500/table-2-number-of-conventional-and-islamic-banks-by-country"><img alt="Number of Conventional and Islamic Banks by Country Table 2. Table 3 presents the list of Islamic banks by country for each of the four countries. In particular, we report the name, mean total assets, and years available for all banks. Al Rajhi Banking and Investment Corporation from Saudi Arabia tops the list with an average total asset of USD 83,625 million. Kuwait Finance House and Dubai Islamic Bank, hold the 2° and 3" positions on the list with a mean total of USD 55,749.94 million and USD 45,046.62 million, respectively. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484505/table-4-list-of-islamic-banks-by-country-panel-and-of-report"><img alt="List of Islamic Banks by Country Panel A and B of Tables 4 report the summary statistics for conventiona and Islamic banks, respectively. Average DEA-generated technical efficiency for conventional banks is 0.388 or 38.8%, whereas the average technical efficiency of Islamic banks is 0.4245 or 42.45%. However, looking at the ESG scores o the two groups, we see an opposite image, except for ESG controversies score. Conventional banks, on average, have an overall ESG score of 36.5042, whereas the average overall ESG score for Islamic banks is 26.40. In terms of environmenta (ENV) pillar score, Islamic banks are lagging far behind as compared with conventional banks (a mean ENV pillar score of 4.63 for Islamic banks vs. 10.28 for non-Islamic banks) and clearly this is the category of ESG where the Islamic banks need to demonstrate significant improvements. Conventional banks have an. average social (SOC) pillar score of 29.10 with min and max scores of 3.41 and 75.20, respectively, whereas the mean SOC pillar score for Islamic banks is only 18.97 with min and max scores of 2.57 and 61.40, respectively. Conventional banks outperform the Islamic banks in the governance (GOV) category as well. A conventional bank has an average GOV pillar score of 57.20, whereas the average GOV pillar score for the Islamic banks is only 45.35. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484509/table-5-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_005.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484511/table-6-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_006.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484514/table-6-reports-the-baseline-results-from-tobit-regressions"><img alt="Table 6 reports the baseline results from Tobit regressions. Column 1 presents the results for all sample banks (conventional + Islamic). The estimated coefficient on ESG is 0.0029 with a p-value of 0.011, indicating significance at 5%. In terms of marginal effects, a 1% increase in a bank’s overall ESG score leads to a 0.2855% increase in its efficiency. Column 2 lays out the results for the sub-sample of conventional banks only. The coefficient on ESG is 0.0024 and highly significant with a p-value of 0.024. A 1% increase in a conventional bank’s ESG scores results in a 0.2358% increase in their level of efficiency. Lastly, column 3 reports the results for Islamic banks. The coefficient on ESG is positive (0.001) but statistically insignificant (p-value = 0.730). Clearly, ESG does not have a strong influence on the efficiency of Islamic banks. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_007.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484521/table-8-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Tobit Regressions " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_008.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484538/table-6-tobit-regressions-continued"><img alt="Tobit Regressions (Continued) Table 6. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_009.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484581/table-7-esg-pillar-scores-and-bank-efficiency"><img alt="ESG Pillar Scores and Bank Efficiency Table 7. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_010.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484593/table-7-esg-pillar-scores-and-bank-efficiency-continued"><img alt="ESG Pillar Scores and Bank Efficiency (Continued) Standard errors are in parenthesis; *** p<0.01, ** p<0.05, * p<0.1 Table 7. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_011.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484602/table-8-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Robustness Analysis Table 8. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_012.jpg" /></a></figure></div><div class="next-slide-container js-next-button-container"><button aria-label="Next" class="carousel-navigation-button js-profile-work-121940065-figures-next"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_forward_ios</span></button></div></div></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="e9d7f125fb4244e5cc615bdaee539e9b" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704788,"asset_id":121940065,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704788/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940065"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940065"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940065; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940065]").text(description); $(".js-view-count[data-work-id=121940065]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940065; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940065']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "e9d7f125fb4244e5cc615bdaee539e9b" } } $('.js-work-strip[data-work-id=121940065]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940065,"title":"Esg Activities and Bank Efficiency: Are Islamic Banks Better?","translated_title":"","metadata":{"abstract":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","publisher":"Bank Indonesia, Central Banking Research Department","publication_date":{"day":null,"month":null,"year":2022,"errors":{}},"publication_name":"Journal of Islamic Monetary Economics and Finance"},"translated_abstract":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","internal_url":"https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better","translated_internal_url":"","created_at":"2024-07-10T10:20:48.062-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704788/thumbnails/1.jpg","file_name":"892.pdf","download_url":"https://www.academia.edu/attachments/116704788/download_file","bulk_download_file_name":"Esg_Activities_and_Bank_Efficiency_Are_I.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704788/892-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEsg_Activities_and_Bank_Efficiency_Are_I.pdf\u0026Expires=1743390567\u0026Signature=d5wWPv3F~fYkiAIPB~YkcNNnjvuT402EwbPGawl-DaD5FXWR1ViPUMBRM047FqELAo2uUpQ1lDNu0WgGud413Rq68lAFc3rpJXzs662UFuX00lU5l2FuyOfUkwGUdS1CNjAGGlyIF3z3oSZyLPnmT2NjDQw8XY2tZVAUzGOVi6c7KMbwROEfnlE2odRPLXz2wsmqCyw-HMC4UbV1gP7iOBV-HPYelNVnoKpiYaJbXnTgk1TBmewQvbWM4eghRFsu9L~TqlqVh7yxZLnEYhvPf--pUInufPjaYTYiixnSBh1uhBcUP-oarGlwF4aWKAB2DlHZ0rMIzaxd0ocECket1A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better","translated_slug":"","page_count":24,"language":"en","content_type":"Work","summary":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704788/thumbnails/1.jpg","file_name":"892.pdf","download_url":"https://www.academia.edu/attachments/116704788/download_file","bulk_download_file_name":"Esg_Activities_and_Bank_Efficiency_Are_I.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704788/892-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEsg_Activities_and_Bank_Efficiency_Are_I.pdf\u0026Expires=1743390567\u0026Signature=d5wWPv3F~fYkiAIPB~YkcNNnjvuT402EwbPGawl-DaD5FXWR1ViPUMBRM047FqELAo2uUpQ1lDNu0WgGud413Rq68lAFc3rpJXzs662UFuX00lU5l2FuyOfUkwGUdS1CNjAGGlyIF3z3oSZyLPnmT2NjDQw8XY2tZVAUzGOVi6c7KMbwROEfnlE2odRPLXz2wsmqCyw-HMC4UbV1gP7iOBV-HPYelNVnoKpiYaJbXnTgk1TBmewQvbWM4eghRFsu9L~TqlqVh7yxZLnEYhvPf--pUInufPjaYTYiixnSBh1uhBcUP-oarGlwF4aWKAB2DlHZ0rMIzaxd0ocECket1A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":17888,"name":"Data Envelopment Analysis","url":"https://www.academia.edu/Documents/in/Data_Envelopment_Analysis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":210122,"name":"Robustness (evolution)","url":"https://www.academia.edu/Documents/in/Robustness_evolution_"},{"id":423509,"name":"Tobit Model","url":"https://www.academia.edu/Documents/in/Tobit_Model"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (true) { Aedu.setUpFigureCarousel('profile-work-121940065-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940064"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking"><img alt="Research paper thumbnail of Chinese Equity Market Pricing and Loan Sales Discount in US Banking" class="work-thumbnail" src="https://attachments.academia-assets.com/116704786/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking">Chinese Equity Market Pricing and Loan Sales Discount in US Banking</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) mod...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="ffc0f07fd0257de0a121ad79ac1cdc88" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704786,"asset_id":121940064,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704786/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940064"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940064"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940064; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940064]").text(description); $(".js-view-count[data-work-id=121940064]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940064; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940064']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "ffc0f07fd0257de0a121ad79ac1cdc88" } } $('.js-work-strip[data-work-id=121940064]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940064,"title":"Chinese Equity Market Pricing and Loan Sales Discount in US Banking","translated_title":"","metadata":{"grobid_abstract":"In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"grobid_abstract_attachment_id":116704786},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking","translated_internal_url":"","created_at":"2024-07-10T10:20:47.747-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704786,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704786/thumbnails/1.jpg","file_name":"387593481.pdf","download_url":"https://www.academia.edu/attachments/116704786/download_file","bulk_download_file_name":"Chinese_Equity_Market_Pricing_and_Loan_S.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704786/387593481-libre.pdf?1720632991=\u0026response-content-disposition=attachment%3B+filename%3DChinese_Equity_Market_Pricing_and_Loan_S.pdf\u0026Expires=1743362071\u0026Signature=fQleF1WK6q1DzsFKr2Yw1RLzXo9VEf1ESJtOfZtekBuHn6ZlKYx-xaXy-aifdrhNBPa~~oxN7zcJitegqcW~yUoP~6gur31bF4cDjFfMEab7bYX-hxCLKtJl8Ad4~3-my1C9qAljF2cqEcE7pkLCRwf4e6EChjcZnnFkUvzkN4IF6HN0cUWXTCQ~JlO8CD236laJsML5-fYlPQ82feUhiOucaxLDSg8TaHB7GvtNUuQPJzR1poPaxRHR-pGD7fuTrg2ICauK54oI1MByrYo~uf8vSAJNHWvsCv9Ava2QiYyNeqITXJ64Oqwi6Or7FohD0nTf20gujzXzbnchxp-kRw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking","translated_slug":"","page_count":58,"language":"en","content_type":"Work","summary":"In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"UmdFME9XSUptSXo1dE5lQktFUHdFY1dUcGg3VEtHd0hWSmVBVy9zcVZBMD0tLXlWMkVHQXZjQVhtOHRnem9meWlNL3c9PQ==--5277311c0cde78617059d487791b40953821b61f"},"attachments":[{"id":116704786,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704786/thumbnails/1.jpg","file_name":"387593481.pdf","download_url":"https://www.academia.edu/attachments/116704786/download_file","bulk_download_file_name":"Chinese_Equity_Market_Pricing_and_Loan_S.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704786/387593481-libre.pdf?1720632991=\u0026response-content-disposition=attachment%3B+filename%3DChinese_Equity_Market_Pricing_and_Loan_S.pdf\u0026Expires=1743362071\u0026Signature=fQleF1WK6q1DzsFKr2Yw1RLzXo9VEf1ESJtOfZtekBuHn6ZlKYx-xaXy-aifdrhNBPa~~oxN7zcJitegqcW~yUoP~6gur31bF4cDjFfMEab7bYX-hxCLKtJl8Ad4~3-my1C9qAljF2cqEcE7pkLCRwf4e6EChjcZnnFkUvzkN4IF6HN0cUWXTCQ~JlO8CD236laJsML5-fYlPQ82feUhiOucaxLDSg8TaHB7GvtNUuQPJzR1poPaxRHR-pGD7fuTrg2ICauK54oI1MByrYo~uf8vSAJNHWvsCv9Ava2QiYyNeqITXJ64Oqwi6Or7FohD0nTf20gujzXzbnchxp-kRw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance"},{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing"},{"id":88182,"name":"Loan","url":"https://www.academia.edu/Documents/in/Loan"},{"id":172189,"name":"Bailout","url":"https://www.academia.edu/Documents/in/Bailout"},{"id":457544,"name":"Depository Institutions","url":"https://www.academia.edu/Documents/in/Depository_Institutions"},{"id":1462110,"name":"Chinese Stock Market","url":"https://www.academia.edu/Documents/in/Chinese_Stock_Market"},{"id":1753712,"name":"Equity Law","url":"https://www.academia.edu/Documents/in/Equity_Law"},{"id":2609728,"name":"Financial Institutions and Services","url":"https://www.academia.edu/Documents/in/Financial_Institutions_and_Services"},{"id":2609729,"name":"Government Policy and Regulation","url":"https://www.academia.edu/Documents/in/Government_Policy_and_Regulation"},{"id":3913892,"name":"Fdic","url":"https://www.academia.edu/Documents/in/Fdic"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940064-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940063"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach"><img alt="Research paper thumbnail of Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach" class="work-thumbnail" src="https://attachments.academia-assets.com/116704756/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach">Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach</a></div><div class="wp-workCard_item"><span>International Journal of Economics and Politics</span><span>, 2021</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This research investigates how Islamic banking institutions control default cases and the mechani...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="4813c52c899d157630c6ede686701e40" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704756,"asset_id":121940063,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704756/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940063"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940063"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940063; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940063]").text(description); $(".js-view-count[data-work-id=121940063]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940063; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940063']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "4813c52c899d157630c6ede686701e40" } } $('.js-work-strip[data-work-id=121940063]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940063,"title":"Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach","translated_title":"","metadata":{"publisher":"Armenian Green Publishing Co.","ai_title_tag":"Default Case Management in Malaysian Islamic Banking","grobid_abstract":"This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.","publication_date":{"day":null,"month":null,"year":2021,"errors":{}},"publication_name":"International Journal of Economics and Politics","grobid_abstract_attachment_id":116704756},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach","translated_internal_url":"","created_at":"2024-07-10T10:20:47.510-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704756,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704756/thumbnails/1.jpg","file_name":"article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf","download_url":"https://www.academia.edu/attachments/116704756/download_file","bulk_download_file_name":"Mechanisms_to_Handle_Default_Cases_in_Is.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704756/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e-libre.pdf?1720632922=\u0026response-content-disposition=attachment%3B+filename%3DMechanisms_to_Handle_Default_Cases_in_Is.pdf\u0026Expires=1743362071\u0026Signature=Og9E6G0bZIdzythjq8S20E7VwXitVTiD7l85kDKvNG5KgFLOiwo060GWJ0NKJ4ZoGYiKzKLDgRfORrpkjkYkD~N8VRHmh8jWN34IyDKcUCRw~3Ymm0fT1AK6dADfeKXLlGH6CXqNjO1unPlkJKF38NmcOk7GIBSkDI~CzuprwZNHJyYkjAFT8HCDQ-jy2U4bv15eWw7zA~5uF5osynJV6kHtraPjuNjB2RQ3-t57RK-f3qScGcyJvKg~~NtfE1dzyNOn3CxFOGrZyJYUko4CfUWvP6C13JO4WoXYcr7JJAJEmLkNIEuFTKHYHYceGZX9Bro7o5zhbev-i~mT1F9~RA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach","translated_slug":"","page_count":19,"language":"en","content_type":"Work","summary":"This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"QmNUNTVLTVFsUHhrbDVVaDhFL200am8vd3RvTWhwa2JnWkhRME5Xc1JoMD0tLVhmL0dmckoxaE1qNy8rUmtjVU84VEE9PQ==--b9bdcc0910dd09e14f2d50755111db8457cd705c"},"attachments":[{"id":116704756,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704756/thumbnails/1.jpg","file_name":"article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf","download_url":"https://www.academia.edu/attachments/116704756/download_file","bulk_download_file_name":"Mechanisms_to_Handle_Default_Cases_in_Is.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704756/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e-libre.pdf?1720632922=\u0026response-content-disposition=attachment%3B+filename%3DMechanisms_to_Handle_Default_Cases_in_Is.pdf\u0026Expires=1743362071\u0026Signature=Og9E6G0bZIdzythjq8S20E7VwXitVTiD7l85kDKvNG5KgFLOiwo060GWJ0NKJ4ZoGYiKzKLDgRfORrpkjkYkD~N8VRHmh8jWN34IyDKcUCRw~3Ymm0fT1AK6dADfeKXLlGH6CXqNjO1unPlkJKF38NmcOk7GIBSkDI~CzuprwZNHJyYkjAFT8HCDQ-jy2U4bv15eWw7zA~5uF5osynJV6kHtraPjuNjB2RQ3-t57RK-f3qScGcyJvKg~~NtfE1dzyNOn3CxFOGrZyJYUko4CfUWvP6C13JO4WoXYcr7JJAJEmLkNIEuFTKHYHYceGZX9Bro7o5zhbev-i~mT1F9~RA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt"},{"id":271529,"name":"Economics and Politics","url":"https://www.academia.edu/Documents/in/Economics_and_Politics-1"}],"urls":[{"id":43462339,"url":"http://jep.sbu.ac.ir/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940063-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940062"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life"><img alt="Research paper thumbnail of Introduction: empirical research on Islam and economic life" class="work-thumbnail" src="https://attachments.academia-assets.com/116704783/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life">Introduction: empirical research on Islam and economic life</a></div><div class="wp-workCard_item"><span>Handbook of Empirical Research on Islam and Economic Life</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The turmoil left in the wake of the global financial crisis presents an opportune time to rethink...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="10ffeb39d435d92565de1c540367c194" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704783,"asset_id":121940062,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704783/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940062"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940062"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940062; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940062]").text(description); $(".js-view-count[data-work-id=121940062]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940062; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940062']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "10ffeb39d435d92565de1c540367c194" } } $('.js-work-strip[data-work-id=121940062]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940062,"title":"Introduction: empirical research on Islam and economic life","translated_title":"","metadata":{"publisher":"Edward Elgar Publishing","ai_title_tag":"Islamic Finance: Ethics and Economic Justice","grobid_abstract":"The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing","publication_name":"Handbook of Empirical Research on Islam and Economic Life","grobid_abstract_attachment_id":116704783},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life","translated_internal_url":"","created_at":"2024-07-10T10:20:47.268-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704783,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704783/thumbnails/1.jpg","file_name":"1a9633801fa0f4f5775ed5268e2977fc8e74.pdf","download_url":"https://www.academia.edu/attachments/116704783/download_file","bulk_download_file_name":"Introduction_empirical_research_on_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704783/1a9633801fa0f4f5775ed5268e2977fc8e74-libre.pdf?1720632914=\u0026response-content-disposition=attachment%3B+filename%3DIntroduction_empirical_research_on_Islam.pdf\u0026Expires=1743362071\u0026Signature=QrtUCEoH9gQVNoOavxThTP0U-At3Kq8vc6jY3CkMUZhwlsrfuujJhrOT1X1lw5QeI1qQ51~3HqsIeTXdztgZZhgC48Qr2WVgQPhelJbekeBTuZHA2TglS2smSPo3fnMP~AlOBZ6p5cdW3HezRGiFqsHZDe2Fjrjy-GTaHUCBiVqOlSVyJjb4NKsEAXw77sqTwivizVvZ6w2Ydha4CiuaEgC6j3Zw80~Pj4hcSMsdu3ninsthmraIWy5u1Y2h37UG86PEgS8ZXcpzv8eEuQkDku89n6AnY4rew8DQBGBGAXFJz2jmPNCiib6cDWGROc-iC37MJ2WaETveII0pin7JIA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Introduction_empirical_research_on_Islam_and_economic_life","translated_slug":"","page_count":20,"language":"en","content_type":"Work","summary":"The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"N2hraHBIeUdIajQvNk5CemNpbE5SYXJmT2FUUVVaKzUwTnVCcUFtcHR1bz0tLXJDTmpoalBFSTdUalBoMHFrY1o3VEE9PQ==--fb74f82a7f717b6bec1820f9c094e6bf7ae4e81c"},"attachments":[{"id":116704783,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704783/thumbnails/1.jpg","file_name":"1a9633801fa0f4f5775ed5268e2977fc8e74.pdf","download_url":"https://www.academia.edu/attachments/116704783/download_file","bulk_download_file_name":"Introduction_empirical_research_on_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704783/1a9633801fa0f4f5775ed5268e2977fc8e74-libre.pdf?1720632914=\u0026response-content-disposition=attachment%3B+filename%3DIntroduction_empirical_research_on_Islam.pdf\u0026Expires=1743362071\u0026Signature=QrtUCEoH9gQVNoOavxThTP0U-At3Kq8vc6jY3CkMUZhwlsrfuujJhrOT1X1lw5QeI1qQ51~3HqsIeTXdztgZZhgC48Qr2WVgQPhelJbekeBTuZHA2TglS2smSPo3fnMP~AlOBZ6p5cdW3HezRGiFqsHZDe2Fjrjy-GTaHUCBiVqOlSVyJjb4NKsEAXw77sqTwivizVvZ6w2Ydha4CiuaEgC6j3Zw80~Pj4hcSMsdu3ninsthmraIWy5u1Y2h37UG86PEgS8ZXcpzv8eEuQkDku89n6AnY4rew8DQBGBGAXFJz2jmPNCiib6cDWGROc-iC37MJ2WaETveII0pin7JIA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940062-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940061"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments"><img alt="Research paper thumbnail of Economic analysis of Islamic monetary framework and instruments" class="work-thumbnail" src="https://attachments.academia-assets.com/116704744/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments">Economic analysis of Islamic monetary framework and instruments</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">• Levine (2002) using crosscountry data argues that financial development is robustly linked with...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c618c4e3f79c38093f44a679bd97026c" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704744,"asset_id":121940061,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704744/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940061"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940061"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940061; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940061]").text(description); $(".js-view-count[data-work-id=121940061]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940061; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940061']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c618c4e3f79c38093f44a679bd97026c" } } $('.js-work-strip[data-work-id=121940061]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940061,"title":"Economic analysis of Islamic monetary framework and instruments","translated_title":"","metadata":{"grobid_abstract":"• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"grobid_abstract_attachment_id":116704744},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments","translated_internal_url":"","created_at":"2024-07-10T10:20:47.040-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704744,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704744/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704744/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704744/islamic-economy-workshop-vii-libre.pdf?1720632930=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=O3TI~3dqGKayb~LbrLKyzjMUmp3O8uunFEZ39AXTTzlwHCYqxKR9aVdUSNLTGjvYdz5LafpkJr7Y4cA0BlM6xssPGBwDQcXzRxoRp1qcaQ5x-ojP-vokR-JnyFrk1mbdshvCWB6VuMLJf3C8Dfc1fm4a2MHaHaCGnzRDKMfKrNJo9fiLYbmH36PUzA0LM48iEgWg3lR-0ek9QyCVcSHVMscxk4tD5xcNE8LResC~qmKUY3GeIRl-FnPf552xnLd5jpZnd2XJHzhktridjkqa~y9UsWtm54~7CfRM6WlOHSWMmGDoY6R1VmvFybkWZj88PCe~8ajN6PPxFV1RV7GwPg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Economic_analysis_of_Islamic_monetary_framework_and_instruments","translated_slug":"","page_count":31,"language":"en","content_type":"Work","summary":"• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704744,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704744/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704744/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704744/islamic-economy-workshop-vii-libre.pdf?1720632930=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=O3TI~3dqGKayb~LbrLKyzjMUmp3O8uunFEZ39AXTTzlwHCYqxKR9aVdUSNLTGjvYdz5LafpkJr7Y4cA0BlM6xssPGBwDQcXzRxoRp1qcaQ5x-ojP-vokR-JnyFrk1mbdshvCWB6VuMLJf3C8Dfc1fm4a2MHaHaCGnzRDKMfKrNJo9fiLYbmH36PUzA0LM48iEgWg3lR-0ek9QyCVcSHVMscxk4tD5xcNE8LResC~qmKUY3GeIRl-FnPf552xnLd5jpZnd2XJHzhktridjkqa~y9UsWtm54~7CfRM6WlOHSWMmGDoY6R1VmvFybkWZj88PCe~8ajN6PPxFV1RV7GwPg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704745,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704745/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704745/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704745/islamic-economy-workshop-vii-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=UNuStZUPiY3KQ4-em1JVpKID87z7CwZKGjjPHmMKCXI9k1ZCPPK5Bw8w-anCanu7X9k0~YaFWu58G24bm3yjAVaJEgV8ANa2121x~bmB5grNLurljemeza~ZqHF8l9u4yQtd9Hy9VUYk4-lro81lMywa-ZDPKNVdEAHRqHz2thTlEKXBw3sKT4DOer7sDvZCr5YBE4D7DlaIqpTB~hcBPy6aPNCFITto5VnOt088vs2TZrijl419kefepcOWvrXbXtotkyTP3gASncV02ezZSrBoLwtBBAi0dQZ5x2QMRpNRXj7iuF-uNohdO38ivYjqNpKXPyAZKYHwOXog71WcYA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"}],"urls":[{"id":43462338,"url":"https://islamiceconomicsproject.files.wordpress.com/2020/07/islamic-economy-workshop-vii.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940061-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940060"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic"><img alt="Research paper thumbnail of Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?" class="work-thumbnail" src="https://attachments.academia-assets.com/116704785/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic">Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?</a></div><div class="wp-workCard_item"><span>Global Finance Journal</span><span>, 2021</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study evaluates the safe-haven role of twelve assets against the US stock market during the ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a13408404be7fe6055e43a603be200c3" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704785,"asset_id":121940060,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704785/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940060"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940060"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940060; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940060]").text(description); $(".js-view-count[data-work-id=121940060]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940060; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940060']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a13408404be7fe6055e43a603be200c3" } } $('.js-work-strip[data-work-id=121940060]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940060,"title":"Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.","publication_date":{"day":null,"month":null,"year":2021,"errors":{}},"publication_name":"Global Finance Journal","grobid_abstract_attachment_id":116704785},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic","translated_internal_url":"","created_at":"2024-07-10T10:20:46.808-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704785,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704785/thumbnails/1.jpg","file_name":"pmc8575456.pdf","download_url":"https://www.academia.edu/attachments/116704785/download_file","bulk_download_file_name":"Are_safe_haven_assets_really_safe_during.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704785/pmc8575456-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DAre_safe_haven_assets_really_safe_during.pdf\u0026Expires=1743362072\u0026Signature=YqfwWqGSAcP04NsV6CId3impALRHNfMNkTPlg4CGKJmpXs~wCR17LVxDzVqdmCPzlvQearyWSKnke~2QCdEB3kfqUnn8RvWs0F7Gtje4tpfi4ZlRS95FdJZj~xfezMNNdWldaxGflNc5Gwj9sVmX~EB7aFHRmo-mX528p0Os8hHfUVycI2rHnKOxqQypo5Un6EREp2RfP4yFuOsdr1F7V8p20xnJQRv20gUKU6wa~1cIyDB3Oe6PPXzzyWKi0Po-YXN55w7wo2ZlwKhp1HoNntLp4WVEJm-aHVXgj3KYgiwL4aRnbNYI8e~2hyEEqeDQtxdfvftleYb7TM5xlyidzA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"L1FSazNUYjk3eFBaN2tzaGFhQUFPZjMrWUF2c2l4M2hyUWFHU3BEZmFyQT0tLVpOOFFUV1E3N3UxUGdHb0JMUDd5Znc9PQ==--5b53aba472dd30467b878bd1b8361b17fb227bad"},"attachments":[{"id":116704785,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704785/thumbnails/1.jpg","file_name":"pmc8575456.pdf","download_url":"https://www.academia.edu/attachments/116704785/download_file","bulk_download_file_name":"Are_safe_haven_assets_really_safe_during.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704785/pmc8575456-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DAre_safe_haven_assets_really_safe_during.pdf\u0026Expires=1743362072\u0026Signature=YqfwWqGSAcP04NsV6CId3impALRHNfMNkTPlg4CGKJmpXs~wCR17LVxDzVqdmCPzlvQearyWSKnke~2QCdEB3kfqUnn8RvWs0F7Gtje4tpfi4ZlRS95FdJZj~xfezMNNdWldaxGflNc5Gwj9sVmX~EB7aFHRmo-mX528p0Os8hHfUVycI2rHnKOxqQypo5Un6EREp2RfP4yFuOsdr1F7V8p20xnJQRv20gUKU6wa~1cIyDB3Oe6PPXzzyWKi0Po-YXN55w7wo2ZlwKhp1HoNntLp4WVEJm-aHVXgj3KYgiwL4aRnbNYI8e~2hyEEqeDQtxdfvftleYb7TM5xlyidzA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":29156,"name":"Stock Market","url":"https://www.academia.edu/Documents/in/Stock_Market"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":80649,"name":"Global Finance","url":"https://www.academia.edu/Documents/in/Global_Finance"},{"id":1028827,"name":"Pandemic","url":"https://www.academia.edu/Documents/in/Pandemic"},{"id":1291254,"name":"Haven","url":"https://www.academia.edu/Documents/in/Haven"},{"id":2236298,"name":"Safe Haven","url":"https://www.academia.edu/Documents/in/Safe_Haven"},{"id":2573323,"name":"Stock Market Index","url":"https://www.academia.edu/Documents/in/Stock_Market_Index"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"},{"id":3686510,"name":"Coronavirus Disease 2019 (COVID-19)","url":"https://www.academia.edu/Documents/in/Coronavirus_Disease_2019_COVID-19_"}],"urls":[{"id":43462337,"url":"https://api.elsevier.com/content/article/PII:S1044028321000661?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940060-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940059"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds"><img alt="Research paper thumbnail of Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds" class="work-thumbnail" src="https://attachments.academia-assets.com/116704742/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds">Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds</a></div><div class="wp-workCard_item"><span>Journal of Islamic Monetary Economics and Finance</span><span>, 2020</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper investigates the determinants and their factors that affect governments’ decision to e...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="8c9b8d4142d755fd7a154a7b779853de" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704742,"asset_id":121940059,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704742/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940059"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940059"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940059; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940059]").text(description); $(".js-view-count[data-work-id=121940059]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940059; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940059']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "8c9b8d4142d755fd7a154a7b779853de" } } $('.js-work-strip[data-work-id=121940059]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940059,"title":"Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds","translated_title":"","metadata":{"abstract":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","publisher":"Bank Indonesia, Central Banking Research Department","ai_title_tag":"Sovereign Sukuk vs Conventional Bonds: Determinants","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"publication_name":"Journal of Islamic Monetary Economics and Finance"},"translated_abstract":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","internal_url":"https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds","translated_internal_url":"","created_at":"2024-07-10T10:20:45.340-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704742,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704742/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704742/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704742/803-libre.pdf?1720632936=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=W8NhciIsEfuP6NeN7JZwYrbn1lqxdaHpOeVLUvM4cJjbBh5lN0zXo6UxPCnMBAdUYH2T1FewXTcDNMcQCBtrW5PXA-4Uh85iIK5yLZhFSZh5zWhgwVLF7GVqfeVlcSeWNaZlS7I9YJJ4qcb8phBI8zowEm~BIi9jns4jIUpK5~4AX3MUmIMMKy6bp8FyKikuq3zU4Zak5CF0bGSLPvGrHwOQyR9F7eL60nnMQIf7ZO5RBxMP~1g81jDKDrGjIE-kXF-d6V9zdBURgHnVRCNT-SNulAK7doLyp4U1SG9i3YP32hMDgsP3GU2vQkDmszvVBCaZxG64oNcUW9StdnEb9Q__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds","translated_slug":"","page_count":20,"language":"en","content_type":"Work","summary":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"NjdUdjZsL1BLaHg4NldGaEdCa1dHREZNUGE1OVloKzh6cmV3MDNEeFNlND0tLU55MENhd2FweTA5V240VFNEb0tzM2c9PQ==--ef810d9ff5cb31db28798ec9fbde39fd0069233b"},"attachments":[{"id":116704742,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704742/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704742/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704742/803-libre.pdf?1720632936=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=W8NhciIsEfuP6NeN7JZwYrbn1lqxdaHpOeVLUvM4cJjbBh5lN0zXo6UxPCnMBAdUYH2T1FewXTcDNMcQCBtrW5PXA-4Uh85iIK5yLZhFSZh5zWhgwVLF7GVqfeVlcSeWNaZlS7I9YJJ4qcb8phBI8zowEm~BIi9jns4jIUpK5~4AX3MUmIMMKy6bp8FyKikuq3zU4Zak5CF0bGSLPvGrHwOQyR9F7eL60nnMQIf7ZO5RBxMP~1g81jDKDrGjIE-kXF-d6V9zdBURgHnVRCNT-SNulAK7doLyp4U1SG9i3YP32hMDgsP3GU2vQkDmszvVBCaZxG64oNcUW9StdnEb9Q__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704743,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704743/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704743/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704743/803-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=J-zCsfZQ40PInV58fjb2ksEfx1b0AX6FXNsbXSE9tdqk7Eq8C4NqrbDNuwYSp8hr9U9fnY4mujomVfeInmvYjfTwVxXMN2pLPXrRpfw9gOV5dVTBchzDDeblWkWkDYRJ2U~h5weB6~uokzAspV3Aulxq0oJvztRfpxtCI0inlC75KtEIuzNI80ypMDFWr60Sy-XlESEZrMnajkohKiqTurkF1iPd2Caa-PJJaAjjZITyfzTbIPLxLGZkeWlQqGnAmA9RQdaURKhK28RvCL8jYATkhwQD~XmEXUqFqKU3wt3wDtypxwMlzkyKBKEFRDjF40a2871pw7mSKN1lX7WJ2A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":3661,"name":"Sovereignty","url":"https://www.academia.edu/Documents/in/Sovereignty"},{"id":49199,"name":"Sukuk","url":"https://www.academia.edu/Documents/in/Sukuk"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt"},{"id":298391,"name":"Bond","url":"https://www.academia.edu/Documents/in/Bond"}],"urls":[{"id":43462336,"url":"https://jimf-bi.org/index.php/JIMF/article/download/1104/803"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940059-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940058"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks"><img alt="Research paper thumbnail of The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks" class="work-thumbnail" src="https://attachments.academia-assets.com/116704781/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks">The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks</a></div><div class="wp-workCard_item"><span>Pacific-Basin Finance Journal</span><span>, 2020</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The paper investigates the relationship between risk, capital and efficiency for Islamic and conv...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="8ab7b89ed84c18a1845a2f570b4a8856" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704781,"asset_id":121940058,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704781/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940058"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940058"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940058; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940058]").text(description); $(".js-view-count[data-work-id=121940058]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940058; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940058']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "8ab7b89ed84c18a1845a2f570b4a8856" } } $('.js-work-strip[data-work-id=121940058]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940058,"title":"The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks","translated_title":"","metadata":{"publisher":"Elsevier BV","ai_title_tag":"Risk, Capital, and Efficiency in Banking","grobid_abstract":"The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"publication_name":"Pacific-Basin Finance Journal","grobid_abstract_attachment_id":116704781},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks","translated_internal_url":"","created_at":"2024-07-10T10:20:45.069-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704781,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704781/thumbnails/1.jpg","file_name":"SAEED_Feb2020.pdf","download_url":"https://www.academia.edu/attachments/116704781/download_file","bulk_download_file_name":"The_inter_temporal_relationship_between.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704781/SAEED_Feb2020-libre.pdf?1720632937=\u0026response-content-disposition=attachment%3B+filename%3DThe_inter_temporal_relationship_between.pdf\u0026Expires=1743390567\u0026Signature=Jhwv-8PxEYdrHVwlGHUg3WWWxfnJ5MUJBxfPk-1mzxwXkLfCf7L9w2IIPGRWu~5s7-IiSXa~J96L5XCxzhROBSRKbhxK7tesZGUhMC0NyDa7mdfOSdjwFl6wDoR7C-QzwEWCyUfV0IUeLHU~XYM9pQgUWUyiylf1-3Cj1EIa~mMR-VU9~62oDIYIFhAsv5a1IalL53QkcHA0OiCsHZnjPoWFuLOMmj3OcCzzXLejq8lKr0~u-ZPsnM5aGpHhlf6VXMicH5u8xo-9UX3RNRLdAyt5Oxk7mK~xfZSfXwneHpHHGWYrfMPxMs8D-QDYzvBJshiRBmT8PC1zvrmY-MXskw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks","translated_slug":"","page_count":37,"language":"en","content_type":"Work","summary":"The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704781,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704781/thumbnails/1.jpg","file_name":"SAEED_Feb2020.pdf","download_url":"https://www.academia.edu/attachments/116704781/download_file","bulk_download_file_name":"The_inter_temporal_relationship_between.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704781/SAEED_Feb2020-libre.pdf?1720632937=\u0026response-content-disposition=attachment%3B+filename%3DThe_inter_temporal_relationship_between.pdf\u0026Expires=1743390567\u0026Signature=Jhwv-8PxEYdrHVwlGHUg3WWWxfnJ5MUJBxfPk-1mzxwXkLfCf7L9w2IIPGRWu~5s7-IiSXa~J96L5XCxzhROBSRKbhxK7tesZGUhMC0NyDa7mdfOSdjwFl6wDoR7C-QzwEWCyUfV0IUeLHU~XYM9pQgUWUyiylf1-3Cj1EIa~mMR-VU9~62oDIYIFhAsv5a1IalL53QkcHA0OiCsHZnjPoWFuLOMmj3OcCzzXLejq8lKr0~u-ZPsnM5aGpHhlf6VXMicH5u8xo-9UX3RNRLdAyt5Oxk7mK~xfZSfXwneHpHHGWYrfMPxMs8D-QDYzvBJshiRBmT8PC1zvrmY-MXskw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":361468,"name":"Capital Adequacy Ratio","url":"https://www.academia.edu/Documents/in/Capital_Adequacy_Ratio"},{"id":393547,"name":"Insolvency","url":"https://www.academia.edu/Documents/in/Insolvency"},{"id":1753712,"name":"Equity Law","url":"https://www.academia.edu/Documents/in/Equity_Law"},{"id":2210371,"name":"Hg","url":"https://www.academia.edu/Documents/in/Hg"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[{"id":43462335,"url":"https://api.elsevier.com/content/article/PII:S0927538X19305992?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940058-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940057"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries"><img alt="Research paper thumbnail of Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries" class="work-thumbnail" src="https://attachments.academia-assets.com/116704778/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries">Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries</a></div><div class="wp-workCard_item"><span>Journal of Islamic Economics Banking and Finance</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper investigates the inter-temporal relationships between bank efficiency and problem loan...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="bacf56371b28bfea92e07c64dc2f5b52" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704778,"asset_id":121940057,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704778/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940057"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940057"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940057; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940057]").text(description); $(".js-view-count[data-work-id=121940057]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940057; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940057']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "bacf56371b28bfea92e07c64dc2f5b52" } } $('.js-work-strip[data-work-id=121940057]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940057,"title":"Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries","translated_title":"","metadata":{"publisher":"TechKnowledge General Trading LLC","grobid_abstract":"This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"Journal of Islamic Economics Banking and Finance","grobid_abstract_attachment_id":116704778},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries","translated_internal_url":"","created_at":"2024-07-10T10:20:44.826-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704778,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704778/thumbnails/1.jpg","file_name":"v13_n4_article2.pdf","download_url":"https://www.academia.edu/attachments/116704778/download_file","bulk_download_file_name":"Non_Performing_Loans_and_Bank_Efficiency.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704778/v13_n4_article2-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DNon_Performing_Loans_and_Bank_Efficiency.pdf\u0026Expires=1743390567\u0026Signature=dAI-zUsiGsFmFBtJQ-hzvFE23nfx1Upbd~ho8aE2rbYXJUt61klMCoHfpfL-ONc6GhDuWgy8tcNWQwby4Bic0FYKhBjM~vzKKhcqSG9BliKVDJz8gogQ-IA8Ah78tpKiqY~zf8koxveMn6Xvl0W-4mqxc0LUuCPAYuhOANd6N~Pt3BBjbgUl44fknRVWZBSVI~8wury7M-1zRuprzzgkA~rRu41dct1ijeYa5R-OsbpZi3yxQSKXnj2BWS49a5CTOb3jzXYC8N4dmSkIAvNn6yGxtky6OK9q2Tjx0e4Kz5AbJQ8pjGSwimjtNtrIKg1LVUI1iQ~G9pz1kKn0rpzHNw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries","translated_slug":"","page_count":27,"language":"en","content_type":"Work","summary":"This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704778,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704778/thumbnails/1.jpg","file_name":"v13_n4_article2.pdf","download_url":"https://www.academia.edu/attachments/116704778/download_file","bulk_download_file_name":"Non_Performing_Loans_and_Bank_Efficiency.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704778/v13_n4_article2-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DNon_Performing_Loans_and_Bank_Efficiency.pdf\u0026Expires=1743390567\u0026Signature=dAI-zUsiGsFmFBtJQ-hzvFE23nfx1Upbd~ho8aE2rbYXJUt61klMCoHfpfL-ONc6GhDuWgy8tcNWQwby4Bic0FYKhBjM~vzKKhcqSG9BliKVDJz8gogQ-IA8Ah78tpKiqY~zf8koxveMn6Xvl0W-4mqxc0LUuCPAYuhOANd6N~Pt3BBjbgUl44fknRVWZBSVI~8wury7M-1zRuprzzgkA~rRu41dct1ijeYa5R-OsbpZi3yxQSKXnj2BWS49a5CTOb3jzXYC8N4dmSkIAvNn6yGxtky6OK9q2Tjx0e4Kz5AbJQ8pjGSwimjtNtrIKg1LVUI1iQ~G9pz1kKn0rpzHNw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":256944,"name":"Islamic Banking and Finance/Islamic Economics","url":"https://www.academia.edu/Documents/in/Islamic_Banking_and_Finance_Islamic_Economics"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940057-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940056"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/121940056/Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life"><img alt="Research paper thumbnail of Handbook of Empirical Resarch on Islam and Economic Life" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Handbook of Empirical Resarch on Islam and Economic Life</div><div class="wp-workCard_item"><span>Southeast Asian Economies</span><span>, 2018</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940056"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940056"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940056; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940056]").text(description); $(".js-view-count[data-work-id=121940056]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940056; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940056']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=121940056]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940056,"title":"Handbook of Empirical Resarch on Islam and Economic Life","translated_title":"","metadata":{"publisher":"ISEAS - Yusof Ishak Institute","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"Southeast Asian Economies"},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940056/Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life","translated_internal_url":"","created_at":"2024-07-10T10:20:44.652-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":187205,"name":"Classical economics","url":"https://www.academia.edu/Documents/in/Classical_economics"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940056-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940055"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems"><img alt="Research paper thumbnail of Determinants of Bank Capital in Dual Banking Systems" class="work-thumbnail" src="https://attachments.academia-assets.com/116704779/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems">Determinants of Bank Capital in Dual Banking Systems</a></div><div class="wp-workCard_item"><span>SSRN Electronic Journal</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">We report new evidence on the bank and country-level determinants of Islamic bank capital ratios ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="085babf241bfb80ec34c158f2893cf45" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704779,"asset_id":121940055,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704779/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940055"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940055"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940055; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940055]").text(description); $(".js-view-count[data-work-id=121940055]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940055; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940055']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "085babf241bfb80ec34c158f2893cf45" } } $('.js-work-strip[data-work-id=121940055]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940055,"title":"Determinants of Bank Capital in Dual Banking Systems","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"SSRN Electronic Journal","grobid_abstract_attachment_id":116704779},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems","translated_internal_url":"","created_at":"2024-07-10T10:20:44.512-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704779,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704779/thumbnails/1.jpg","file_name":"2017-WP-04_Bitar_Hassan_Hippler.pdf","download_url":"https://www.academia.edu/attachments/116704779/download_file","bulk_download_file_name":"Determinants_of_Bank_Capital_in_Dual_Ban.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704779/2017-WP-04_Bitar_Hassan_Hippler-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DDeterminants_of_Bank_Capital_in_Dual_Ban.pdf\u0026Expires=1743362072\u0026Signature=gAvT6ShR-EtQ8UVu1yKYkmKZqYKzMy3ORbNa6slFG2d87GG68WRap1XX5OYejuBK~byFDK8GG1fW4uLN7ygB~uniAhQ75y0l4ggaB0vQxJ-e0n5kxlQ~0xae5INOpsKmjKIc9tJ2F2r2BMzVY9Riggou0R9UqIvJSl2IpW2qQnmh5LcSQVuqP4Ijtt71Mpp2hKQmmXntKL3acH~NXo9XUbn7OnMfU73iIWO4JVBlEpccMjFx~10NW4b462LV1v79DD9dlwh5dTnM5oZhPhe7KeNEWLvoLs5rTHf87EbBTQynKlFzSw9Njp5a~dGKeVLeozLrHmCzwYr6tp-ynVbYVw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Determinants_of_Bank_Capital_in_Dual_Banking_Systems","translated_slug":"","page_count":45,"language":"en","content_type":"Work","summary":"We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"S08vU09PVHJpbDRXZy9xd2cwckthOWZkSFZ0MHFOM2NYa0hVU00vSjcraz0tLXJIeVBhSkxsOUxMMFQ3Y09GQXlxUEE9PQ==--89f0956e6537de292ce31bf705534c7d0e8786db"},"attachments":[{"id":116704779,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704779/thumbnails/1.jpg","file_name":"2017-WP-04_Bitar_Hassan_Hippler.pdf","download_url":"https://www.academia.edu/attachments/116704779/download_file","bulk_download_file_name":"Determinants_of_Bank_Capital_in_Dual_Ban.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704779/2017-WP-04_Bitar_Hassan_Hippler-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DDeterminants_of_Bank_Capital_in_Dual_Ban.pdf\u0026Expires=1743362072\u0026Signature=gAvT6ShR-EtQ8UVu1yKYkmKZqYKzMy3ORbNa6slFG2d87GG68WRap1XX5OYejuBK~byFDK8GG1fW4uLN7ygB~uniAhQ75y0l4ggaB0vQxJ-e0n5kxlQ~0xae5INOpsKmjKIc9tJ2F2r2BMzVY9Riggou0R9UqIvJSl2IpW2qQnmh5LcSQVuqP4Ijtt71Mpp2hKQmmXntKL3acH~NXo9XUbn7OnMfU73iIWO4JVBlEpccMjFx~10NW4b462LV1v79DD9dlwh5dTnM5oZhPhe7KeNEWLvoLs5rTHf87EbBTQynKlFzSw9Njp5a~dGKeVLeozLrHmCzwYr6tp-ynVbYVw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":23029,"name":"Retail Banking","url":"https://www.academia.edu/Documents/in/Retail_Banking"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":361468,"name":"Capital Adequacy Ratio","url":"https://www.academia.edu/Documents/in/Capital_Adequacy_Ratio"},{"id":1006322,"name":"Capitalization","url":"https://www.academia.edu/Documents/in/Capitalization"},{"id":3273604,"name":"Dual (grammatical number)","url":"https://www.academia.edu/Documents/in/Dual_grammatical_number_"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940055-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940054"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds"><img alt="Research paper thumbnail of The determinants of co-movement dynamics between sukuk and conventional bonds" class="work-thumbnail" src="https://attachments.academia-assets.com/116704774/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds">The determinants of co-movement dynamics between sukuk and conventional bonds</a></div><div class="wp-workCard_item"><span>The Quarterly Review of Economics and Finance</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islam...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="1482fc79b99e31493bb5ca4e54ea7112" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704774,"asset_id":121940054,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704774/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940054"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940054"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940054; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940054]").text(description); $(".js-view-count[data-work-id=121940054]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940054; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940054']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "1482fc79b99e31493bb5ca4e54ea7112" } } $('.js-work-strip[data-work-id=121940054]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940054,"title":"The determinants of co-movement dynamics between sukuk and conventional bonds","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"The Quarterly Review of Economics and Finance","grobid_abstract_attachment_id":116704774},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds","translated_internal_url":"","created_at":"2024-07-10T10:20:44.233-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704774,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704774/thumbnails/1.jpg","file_name":"99277.pdf","download_url":"https://www.academia.edu/attachments/116704774/download_file","bulk_download_file_name":"The_determinants_of_co_movement_dynamics.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704774/99277-libre.pdf?1720632910=\u0026response-content-disposition=attachment%3B+filename%3DThe_determinants_of_co_movement_dynamics.pdf\u0026Expires=1743026687\u0026Signature=CHi6etmTKFalze~w4cqAe0Zzz-hyWdQF1MbFFGahURlgysVhEwxFesbxFwbi5G2bmIrrCZ8XmWWAIS1QNS2mlmRo4lC7lwqiW7h1g2MDPm9mRzanAPjHHtD1S-gC4~JqCB5pIQtJYm-JNjPdZn7rO~585D3vuNv22142gW7JnvbE~xij7rK-oo6E~QPyyOiB56KmTQkqhfIZRYOTQis5C5yaebt0efy5GAbRIM0CExECra9ttSw13hirb0V2jnFhg8mHu9xa-bZ1SZWfnqYb9bnowzpOSvI5FW9jXGBCQGA4z~2CTg3Gs63nPKc1JYeAiZtF6ib~Ka~K4hr7rqUijQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds","translated_slug":"","page_count":3,"language":"en","content_type":"Work","summary":"Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704774,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704774/thumbnails/1.jpg","file_name":"99277.pdf","download_url":"https://www.academia.edu/attachments/116704774/download_file","bulk_download_file_name":"The_determinants_of_co_movement_dynamics.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704774/99277-libre.pdf?1720632910=\u0026response-content-disposition=attachment%3B+filename%3DThe_determinants_of_co_movement_dynamics.pdf\u0026Expires=1743026687\u0026Signature=CHi6etmTKFalze~w4cqAe0Zzz-hyWdQF1MbFFGahURlgysVhEwxFesbxFwbi5G2bmIrrCZ8XmWWAIS1QNS2mlmRo4lC7lwqiW7h1g2MDPm9mRzanAPjHHtD1S-gC4~JqCB5pIQtJYm-JNjPdZn7rO~585D3vuNv22142gW7JnvbE~xij7rK-oo6E~QPyyOiB56KmTQkqhfIZRYOTQis5C5yaebt0efy5GAbRIM0CExECra9ttSw13hirb0V2jnFhg8mHu9xa-bZ1SZWfnqYb9bnowzpOSvI5FW9jXGBCQGA4z~2CTg3Gs63nPKc1JYeAiZtF6ib~Ka~K4hr7rqUijQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":49199,"name":"Sukuk","url":"https://www.academia.edu/Documents/in/Sukuk"},{"id":55550,"name":"Diversification","url":"https://www.academia.edu/Documents/in/Diversification"},{"id":298391,"name":"Bond","url":"https://www.academia.edu/Documents/in/Bond"},{"id":918187,"name":"Corporate Bonds","url":"https://www.academia.edu/Documents/in/Corporate_Bonds"},{"id":2279244,"name":"Multivariate GARCH","url":"https://www.academia.edu/Documents/in/Multivariate_GARCH"}],"urls":[{"id":43462334,"url":"https://api.elsevier.com/content/article/PII:S1062976917300741?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940053"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms"><img alt="Research paper thumbnail of Corporate Social Responsibility of Islamic Labeled Firms" class="work-thumbnail" src="https://attachments.academia-assets.com/116704782/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms">Corporate Social Responsibility of Islamic Labeled Firms</a></div><div class="wp-workCard_item"><span>SSRN Electronic Journal</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S&P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="52537aca2d21e53eff7b604a6efaeeda" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704782,"asset_id":121940053,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704782/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940053"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940053"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940053; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940053]").text(description); $(".js-view-count[data-work-id=121940053]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940053; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940053']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "52537aca2d21e53eff7b604a6efaeeda" } } $('.js-work-strip[data-work-id=121940053]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940053,"title":"Corporate Social Responsibility of Islamic Labeled Firms","translated_title":"","metadata":{"publisher":"Elsevier BV","ai_title_tag":"CSR Analysis of U.S. Islamic Compliant Firms","grobid_abstract":"This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S\u0026P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"SSRN Electronic Journal","grobid_abstract_attachment_id":116704782},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms","translated_internal_url":"","created_at":"2024-07-10T10:20:44.004-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704782,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704782/thumbnails/1.jpg","file_name":"ssrn.330543020240710-1-zq6xj5.pdf","download_url":"https://www.academia.edu/attachments/116704782/download_file","bulk_download_file_name":"Corporate_Social_Responsibility_of_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704782/ssrn.330543020240710-1-zq6xj5-libre.pdf?1720632940=\u0026response-content-disposition=attachment%3B+filename%3DCorporate_Social_Responsibility_of_Islam.pdf\u0026Expires=1743362072\u0026Signature=D-CjRmSH9lw1dcfNSaTqkJP46137KfVQGm6QcA5Bfdv6koMi~zC2i~5oNgt4AZRHaeW0Sml~fM84dNKHw1-jKd5TuyoTXn1rs0UcR-8UjFTiPL3~5RJ-1B5LXhHGYSDVJVvMxp4Rue3j4-W0Snp0t74oX8bAQhgaOhpBb1edq8Zc-NV-0hqN3c~w2zRRSDEORcH45OV2wz7DYx223d2C0zzc2Bi3b3ysASWSdg0m4ONSRd4yv1gVJdOZ66J9m9tyub~cHI7zvQHp4hOU-Ch6DX0OBupigfb0SnaT1E83uSoqTWKEnOG4TLfw~~3s~kxLqLaNx5x~f9HQQMMR-x362w__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Corporate_Social_Responsibility_of_Islamic_Labeled_Firms","translated_slug":"","page_count":54,"language":"en","content_type":"Work","summary":"This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S\u0026P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"UU5ncmhHdXlubFFUVjYvOVJlMFFsK043UVpldnRvNkJ4SHc1ZWtZVkhhVT0tLStvVXVibjlFKzVWdzFnU1JOUXhCTkE9PQ==--8a0fb3d44a455173c7f2a367d7592da7d7263236"},"attachments":[{"id":116704782,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704782/thumbnails/1.jpg","file_name":"ssrn.330543020240710-1-zq6xj5.pdf","download_url":"https://www.academia.edu/attachments/116704782/download_file","bulk_download_file_name":"Corporate_Social_Responsibility_of_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704782/ssrn.330543020240710-1-zq6xj5-libre.pdf?1720632940=\u0026response-content-disposition=attachment%3B+filename%3DCorporate_Social_Responsibility_of_Islam.pdf\u0026Expires=1743362072\u0026Signature=D-CjRmSH9lw1dcfNSaTqkJP46137KfVQGm6QcA5Bfdv6koMi~zC2i~5oNgt4AZRHaeW0Sml~fM84dNKHw1-jKd5TuyoTXn1rs0UcR-8UjFTiPL3~5RJ-1B5LXhHGYSDVJVvMxp4Rue3j4-W0Snp0t74oX8bAQhgaOhpBb1edq8Zc-NV-0hqN3c~w2zRRSDEORcH45OV2wz7DYx223d2C0zzc2Bi3b3ysASWSdg0m4ONSRd4yv1gVJdOZ66J9m9tyub~cHI7zvQHp4hOU-Ch6DX0OBupigfb0SnaT1E83uSoqTWKEnOG4TLfw~~3s~kxLqLaNx5x~f9HQQMMR-x362w__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":1452,"name":"Corporate Social Responsibility","url":"https://www.academia.edu/Documents/in/Corporate_Social_Responsibility"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":27673,"name":"Sharia","url":"https://www.academia.edu/Documents/in/Sharia"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":732336,"name":"Endogeneity","url":"https://www.academia.edu/Documents/in/Endogeneity"},{"id":921017,"name":"Corporation","url":"https://www.academia.edu/Documents/in/Corporation"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940053-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940052"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors"><img alt="Research paper thumbnail of Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors" class="work-thumbnail" src="https://attachments.academia-assets.com/116704780/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors">Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors</a></div><div class="wp-workCard_item"><span>Journal of Business Accounting and Finance Perspectives</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">his study examines (i) the dynamic shocks and volatility interactions between each of the eleven ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="5257a189f2f5fe7df7eb07fb959ca3c6" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704780,"asset_id":121940052,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704780/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940052"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940052"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940052; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940052]").text(description); $(".js-view-count[data-work-id=121940052]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940052; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940052']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "5257a189f2f5fe7df7eb07fb959ca3c6" } } $('.js-work-strip[data-work-id=121940052]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940052,"title":"Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors","translated_title":"","metadata":{"abstract":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","publisher":"MDPI AG","ai_title_tag":"Oil Volatility's Impact on U.S. Economic Sectors","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"Journal of Business Accounting and Finance Perspectives"},"translated_abstract":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","internal_url":"https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors","translated_internal_url":"","created_at":"2024-07-10T10:20:43.728-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704780,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704780/thumbnails/1.jpg","file_name":"pdf.pdf","download_url":"https://www.academia.edu/attachments/116704780/download_file","bulk_download_file_name":"Dynamic_Volatility_and_Shock_Interaction.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704780/pdf-libre.pdf?1720632925=\u0026response-content-disposition=attachment%3B+filename%3DDynamic_Volatility_and_Shock_Interaction.pdf\u0026Expires=1743390567\u0026Signature=YApc7UcYtPI1A2Tccgir05C4AfgIzY8afIl1pmqIk7hLWhUrOJzuJA~TdCg2WoIheRWKrprtLoi7Lg6GlbGDG8~xoFv4yYIZhsa05qjja8KjwIx5ZfNTKWkwaNvjRqiitgFWysEpP1z1m8kjXb0rMhtOZU7dX43ywUGzZE30JWYwMNK7UTF0CIN9fqzy3N35KbnTEsMoP5KSExkP9uLMtJzTp1rshwutUXR71RFRdKzVXTbH4V20LrAEWdnxIlErOc7IsCwqMIVdbBhfUGR4PH0oiq3zhT4l6xZwONdUBPSgcIwl6XvZmi7gPFgy5AYIeqrzeXlLjLgSK6cKxARDtQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors","translated_slug":"","page_count":34,"language":"en","content_type":"Work","summary":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704780,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704780/thumbnails/1.jpg","file_name":"pdf.pdf","download_url":"https://www.academia.edu/attachments/116704780/download_file","bulk_download_file_name":"Dynamic_Volatility_and_Shock_Interaction.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704780/pdf-libre.pdf?1720632925=\u0026response-content-disposition=attachment%3B+filename%3DDynamic_Volatility_and_Shock_Interaction.pdf\u0026Expires=1743390567\u0026Signature=YApc7UcYtPI1A2Tccgir05C4AfgIzY8afIl1pmqIk7hLWhUrOJzuJA~TdCg2WoIheRWKrprtLoi7Lg6GlbGDG8~xoFv4yYIZhsa05qjja8KjwIx5ZfNTKWkwaNvjRqiitgFWysEpP1z1m8kjXb0rMhtOZU7dX43ywUGzZE30JWYwMNK7UTF0CIN9fqzy3N35KbnTEsMoP5KSExkP9uLMtJzTp1rshwutUXR71RFRdKzVXTbH4V20LrAEWdnxIlErOc7IsCwqMIVdbBhfUGR4PH0oiq3zhT4l6xZwONdUBPSgcIwl6XvZmi7gPFgy5AYIeqrzeXlLjLgSK6cKxARDtQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":16219,"name":"Asset Allocation","url":"https://www.academia.edu/Documents/in/Asset_Allocation"},{"id":61216,"name":"Portfolio","url":"https://www.academia.edu/Documents/in/Portfolio"}],"urls":[{"id":43462333,"url":"https://jbafp.jams.pub/article/1/1/4/pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940052-figures'); } }); </script> </div><div class="profile--tab_content_container js-tab-pane tab-pane" data-section-id="4250078" id="papers"><div class="js-work-strip profile--work_container" data-work-id="128304594"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/128304594/Islamic_Capital_Markets"><img alt="Research paper thumbnail of Islamic Capital Markets" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islamic Capital Markets</div><div class="wp-workCard_item"><span>The Influence of Islam on Banking and Finance</span><span>, 2014</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="128304594"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="128304594"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 128304594; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=128304594]").text(description); $(".js-view-count[data-work-id=128304594]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 128304594; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='128304594']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=128304594]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":128304594,"title":"Islamic Capital Markets","translated_title":"","metadata":{"publisher":"Nomos","publication_date":{"day":null,"month":null,"year":2014,"errors":{}},"publication_name":"The Influence of Islam on Banking and Finance"},"translated_abstract":null,"internal_url":"https://www.academia.edu/128304594/Islamic_Capital_Markets","translated_internal_url":"","created_at":"2025-03-19T07:49:31.349-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Islamic_Capital_Markets","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-128304594-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940070"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance"><img alt="Research paper thumbnail of The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance" class="work-thumbnail" src="https://attachments.academia-assets.com/116704754/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance">The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance</a></div><div class="wp-workCard_item"><span>ISRA International Journal of Islamic Finance</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The most salient values of the Islamic financial system are fairness and socio-economic justice. ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="42e3c129855acbd084bb80809b3e07ff" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704754,"asset_id":121940070,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704754/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940070"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940070"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940070; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940070]").text(description); $(".js-view-count[data-work-id=121940070]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940070; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940070']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "42e3c129855acbd084bb80809b3e07ff" } } $('.js-work-strip[data-work-id=121940070]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940070,"title":"The Global Financial Crisis, Risk Management and Social Justice in Islamic Finance","translated_title":"","metadata":{"abstract":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","publisher":"International Centre for Education in Islamic Finance","ai_title_tag":"Islamic Finance: Risk Management \u0026 Social Justice","publication_name":"ISRA International Journal of Islamic Finance"},"translated_abstract":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","internal_url":"https://www.academia.edu/121940070/The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance","translated_internal_url":"","created_at":"2024-07-10T10:20:49.197-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704754,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704754/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704754/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704754/54-libre.pdf?1720632942=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=e6oSdhG9gtNYhfPv8DN4Fkbd1i2gM4zan76iwDy6fiQUfqakiXTuTkpRv7jOnscwa0r6N38O0yNmHf624GdUvA5xqBeozEP7ubwiYyNLILUb~G73idu3l071OPjgfpm-hZRxTlriPO6XSq-udubqvV67wVa3pikGlXcRruGt3rV5gE4oLrWlo3nnt35h36vc-mOk6mYR6UP9S-pvnnHnOiIv6d0mhLnIJUw256quO5CV9Fu1fbhEsl98j2lu745jNMQrZR2NHW5gpKKw4TIvgmTUr6hTcWjqb1bBPKfbl3oU81HCNDiIbpCC~8k4Ig~Rtf-QVUKdog5He2rS0hwiXg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_Global_Financial_Crisis_Risk_Management_and_Social_Justice_in_Islamic_Finance","translated_slug":"","page_count":26,"language":"en","content_type":"Work","summary":"The most salient values of the Islamic financial system are fairness and socio-economic justice. The exuberance of Islam’s uncompromising commitment to the well-being of humankind goes beyond its caring for existing generations to ensuring a sustainable future for generations to come. This is evident by giving utmost priority to the environment and preserving earth’s valuable–yet limited–endowments and resources, and by limiting public borrowings to available resources hence freeing future generations from the burden of debt. The Islamic system of production and finance based on profit-and-loss sharing (PLS) is more efficient and equitable in distribution of wealth and income. Allocation of funds under risk sharing will be based on the viability and expected profitability of the proposed entrepreneurial undertakings rather than on the creditworthiness of competing entrepreneurs. Furthermore, risk sharing offers both entrepreneurs and investors incentives to be truly engaged in produ...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"MjM2QnpPeGs1YVMwdHV4bHFzdDRPcnFEYkZBTHJJdzNlZW9pejhpT2RJRT0tLUxrckgrd1RQZ0xwTEluamNuc0NoNXc9PQ==--09e2513ddae2481eae493bcbc6b8bde23788cd20"},"attachments":[{"id":116704754,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704754/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704754/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704754/54-libre.pdf?1720632942=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=e6oSdhG9gtNYhfPv8DN4Fkbd1i2gM4zan76iwDy6fiQUfqakiXTuTkpRv7jOnscwa0r6N38O0yNmHf624GdUvA5xqBeozEP7ubwiYyNLILUb~G73idu3l071OPjgfpm-hZRxTlriPO6XSq-udubqvV67wVa3pikGlXcRruGt3rV5gE4oLrWlo3nnt35h36vc-mOk6mYR6UP9S-pvnnHnOiIv6d0mhLnIJUw256quO5CV9Fu1fbhEsl98j2lu745jNMQrZR2NHW5gpKKw4TIvgmTUr6hTcWjqb1bBPKfbl3oU81HCNDiIbpCC~8k4Ig~Rtf-QVUKdog5He2rS0hwiXg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704755,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704755/thumbnails/1.jpg","file_name":"54.pdf","download_url":"https://www.academia.edu/attachments/116704755/download_file","bulk_download_file_name":"The_Global_Financial_Crisis_Risk_Managem.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704755/54-libre.pdf?1720632938=\u0026response-content-disposition=attachment%3B+filename%3DThe_Global_Financial_Crisis_Risk_Managem.pdf\u0026Expires=1743362071\u0026Signature=WVkaJgsQlVxpVPp1PdfLht3Z~Bs2MeDeyRj9TjF7LxoYzHUxSZPc4QgMeBvRS7aNbozlZ7w1HNAmw0raoxButH9-YyAkJAJoxEDkFc7eLQ2aHp~TsVxPwwJ8PQ~XV8QraWUO~7EZ0n7tIVGSyDxwQL3eVJZLYcWm~UGaAvxElwo8l8MjFj3SvAeRCRPl876TlRIK9~-xE4XFy~DJQ1dPvicnEyYATTt8XKAKCfLTKmE4~VLS8eOZOiuuRgrxYtftZrowduPUpcdKPBOFvkpJQbCckWZov66V-pDcn1bnxLSQ0USdXM6919ABZALS72wfE9edhQOH8DI95S8bb-JrXA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[{"id":43462344,"url":"https://journal.inceif.org/index.php/ijif/article/download/63/54"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940070-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940069"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks"><img alt="Research paper thumbnail of Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks" class="work-thumbnail" src="https://attachments.academia-assets.com/116704753/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks">Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks</a></div><div class="wp-workCard_item"><span>International Journal of Business and Society</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study comparatively analyses the financial stability of Islamic and conventional banks in Pa...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c55e0089d2c6bbf4fa2a0f5f200615a6" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704753,"asset_id":121940069,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704753/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940069"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940069"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940069; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940069]").text(description); $(".js-view-count[data-work-id=121940069]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940069; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940069']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c55e0089d2c6bbf4fa2a0f5f200615a6" } } $('.js-work-strip[data-work-id=121940069]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940069,"title":"Bank Competition–Stability Relations in Pakistan: A Comparison between Islamic and Conventional Banks","translated_title":"","metadata":{"abstract":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","publisher":"UNIMAS Publisher","ai_title_tag":"Competition-Stability in Pakistan's Banks","publication_name":"International Journal of Business and Society"},"translated_abstract":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","internal_url":"https://www.academia.edu/121940069/Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks","translated_internal_url":"","created_at":"2024-07-10T10:20:48.910-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704753,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704753/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704753/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704753/1365-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=TwhrPENF1AhxN6knHKNCz~nendtHlzJCWjqOSmMF6IYTNMCHUyiJzkkFvTCAf2ssqOiTsNX6LU-mFfOv-7CkvsjkTdR0oU7ah6wvlaz8WF6qDVt7P-GkFYk8KcpHREa75kGoXhdc-DPVxnKlvTVou4SkoZ5fnRmBumZhHY4g-8X5Aq8O4Vhdo62Oxd9t7kvTcEkkZYU-heJffz9NzErNugIO4yA5itaN6cQYrvnMbdQGglsageR3v1BzGChib-9RA0tmU8EROi5sAXC77uFYXRD9ygXKe2ORmRA2IRj1p8BRTymbYxA3BdCJn0JqUfsFq1n-UPRRmvkztxXFKA-rNg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Bank_Competition_Stability_Relations_in_Pakistan_A_Comparison_between_Islamic_and_Conventional_Banks","translated_slug":"","page_count":14,"language":"en","content_type":"Work","summary":"This study comparatively analyses the financial stability of Islamic and conventional banks in Pakistan. Using data of 29 conventional and 9 Islamic banks over 18 years, the study first estimates bank competition and stability using Lerner index and Z-Score, respectively. Generalized least squares regression is used and the coefficients are estimated by using random-effects estimator. Results of the mean comparison show that Islamic banks carry more market power (less competition) and are more stable compared to their conventional counterparts. Results of a panel regression show that competition positively affects the stability of the banking sector and this effect is higher for Islamic banks due to their market power. Results also show that bank stability in Pakistan was reduced during global crisis period; however, presence of Islamic banks contributes to the stability even during crisis. Finally, this study supports the competition-stability hypothesis for Islamic banking in Paki...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704753,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704753/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704753/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704753/1365-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=TwhrPENF1AhxN6knHKNCz~nendtHlzJCWjqOSmMF6IYTNMCHUyiJzkkFvTCAf2ssqOiTsNX6LU-mFfOv-7CkvsjkTdR0oU7ah6wvlaz8WF6qDVt7P-GkFYk8KcpHREa75kGoXhdc-DPVxnKlvTVou4SkoZ5fnRmBumZhHY4g-8X5Aq8O4Vhdo62Oxd9t7kvTcEkkZYU-heJffz9NzErNugIO4yA5itaN6cQYrvnMbdQGglsageR3v1BzGChib-9RA0tmU8EROi5sAXC77uFYXRD9ygXKe2ORmRA2IRj1p8BRTymbYxA3BdCJn0JqUfsFq1n-UPRRmvkztxXFKA-rNg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704752,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704752/thumbnails/1.jpg","file_name":"1365.pdf","download_url":"https://www.academia.edu/attachments/116704752/download_file","bulk_download_file_name":"Bank_Competition_Stability_Relations_in.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704752/1365-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBank_Competition_Stability_Relations_in.pdf\u0026Expires=1743390567\u0026Signature=ACZNjvKgiVfsb6FXDRfJy~BRBEgIboZuI0SB~q5I-VxgeosBPoq~a65AiGXnc4Dv6c97~01zMkpS-CwVEfXJA0rZSGh4qQDD2ftVkjTQws5sPlbeXUYqrjyO1bxxnks1vKXDy8nkHVEaSxZTP4L3sqqur6Y~-66qDP6sVT7QooW3-Oyy0G65wzggSB7uryQaGx1pWUwvXggDmt37w3SCUIgHSiWKA7IXjLZaeObMHoR7uem8-SC-MwEY9uwXumNzYNgh2ojfwBGcyauk9IIhM76myD-REM81hG-qanWrQyrmoUP0MMHye1wg8NSSe-S~ZAlqUgNLG4cHt2cgkEAnvA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"},{"id":321297,"name":"Market Power","url":"https://www.academia.edu/Documents/in/Market_Power"},{"id":321298,"name":"Lerner index","url":"https://www.academia.edu/Documents/in/Lerner_index"},{"id":1885571,"name":"Business Society","url":"https://www.academia.edu/Documents/in/Business_Society"}],"urls":[{"id":43462343,"url":"https://publisher.unimas.my/ojs/index.php/IJBS/article/download/3733/1365"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940069-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940068"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model"><img alt="Research paper thumbnail of Application of a distributed verification in Islamic microfinance institutions: a sustainable model" class="work-thumbnail" src="https://attachments.academia-assets.com/116704750/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model">Application of a distributed verification in Islamic microfinance institutions: a sustainable model</a></div><div class="wp-workCard_item"><span>Financial Innovation</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The literature gap in microfinance paradox of double bottom line (financial performance vs. outre...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="4af0048f607d250f75137ce31cdf9378" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704750,"asset_id":121940068,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704750/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940068"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940068"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940068; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940068]").text(description); $(".js-view-count[data-work-id=121940068]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940068; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940068']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "4af0048f607d250f75137ce31cdf9378" } } $('.js-work-strip[data-work-id=121940068]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940068,"title":"Application of a distributed verification in Islamic microfinance institutions: a sustainable model","translated_title":"","metadata":{"abstract":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","publisher":"Springer Science and Business Media LLC","ai_title_tag":"Distributed Verification in Sustainable Islamic Microfinance","publication_name":"Financial Innovation"},"translated_abstract":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","internal_url":"https://www.academia.edu/121940068/Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model","translated_internal_url":"","created_at":"2024-07-10T10:20:48.656-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704750,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704750/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704750/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704750/s40854-022-00384-z-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=Nds2DrjBsUOMF9gG19U7Lfd89Xbh0klj21a1Zy~SxvsHQ~nYYDi4EjdNjkDjTpJE-quC7QY9JW7WpVCu5qpwVq6wi55qiK8OhV1bjnqv4RLQVrTdDwngLVQauRoExoMfKQdGeWXofx11q~Q9z3YYR2~~K-BHe3P2gv2EgnbnHTnFL1gQh4GGL1UZG3MywQGK3vLIjxelokRDovFa646GzeS06Ba-xV76Jfb~NCo2c5nn2~vxf9StcpPfkh4oOodxeKabKwjgkG2EefcQpxv4thj0V2WulRDXDnGFk9x1UcI8rsO2oGH80iZJfVG43q4E6sGIAryrqgv~w9tEu7n0ng__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Application_of_a_distributed_verification_in_Islamic_microfinance_institutions_a_sustainable_model","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"The literature gap in microfinance paradox of double bottom line (financial performance vs. outreach) has always been an interesting area of research. This paper proposes a theoretical model most suitable for Islamic Microfinance Institutions (MFIs) which enables Islamic MFIs’ to operate together with the existing financial models compliant with Islamic Shariah Law. This model is based on a distributed verification/decision-making process that might be realized (but not necessary) through blockchain. Among the available distributed verification techniques, blockchain technology is an attractive emerging computing paradigm due to its decentralized, immutable, shared, and secure data structure characteristics. This model proposes three significant propositions. First, sharing information through blockchain will allow a transparent network in MFI operations, which will raise confidence for donors resulting in a causal effect of a relatively lower profit rate to be charged by the MFIs. ...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704750,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704750/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704750/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704750/s40854-022-00384-z-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=Nds2DrjBsUOMF9gG19U7Lfd89Xbh0klj21a1Zy~SxvsHQ~nYYDi4EjdNjkDjTpJE-quC7QY9JW7WpVCu5qpwVq6wi55qiK8OhV1bjnqv4RLQVrTdDwngLVQauRoExoMfKQdGeWXofx11q~Q9z3YYR2~~K-BHe3P2gv2EgnbnHTnFL1gQh4GGL1UZG3MywQGK3vLIjxelokRDovFa646GzeS06Ba-xV76Jfb~NCo2c5nn2~vxf9StcpPfkh4oOodxeKabKwjgkG2EefcQpxv4thj0V2WulRDXDnGFk9x1UcI8rsO2oGH80iZJfVG43q4E6sGIAryrqgv~w9tEu7n0ng__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704749,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704749/thumbnails/1.jpg","file_name":"s40854-022-00384-z.pdf","download_url":"https://www.academia.edu/attachments/116704749/download_file","bulk_download_file_name":"Application_of_a_distributed_verificatio.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704749/s40854-022-00384-z-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DApplication_of_a_distributed_verificatio.pdf\u0026Expires=1743390567\u0026Signature=PinC7j6TXnUtiGHYyi-5u2bGrDQY3Qq4FUg7~kzGKlQ4b5~BbfM6rdcg1WDvGHdz~F00COnpxCAfQqpjSuuq0OqEsFj3G6rtLVXDJbcFX7cmoCTJ5-5-SZlWrKxtEuc6kaDQwLepg-TFO4xsq0wKCZN8XB1syHEPFcvLASaiJkDHANI8MNdtmthJxbloq~mausPO-sOxMxItVXYFdpKHk598topJKKrSdhWMCCiupuRFTy-FbbxO7Qt1bNWnp-SnHpY~LEaE-2d07ZJvp4i6te0oodyqJUutCAXBol9psktA5ZHmNRbt2ZguiTGKWhG6o0R9h6u2fwZxi-MUzyZFuw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":5756,"name":"Microfinance","url":"https://www.academia.edu/Documents/in/Microfinance"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":79360,"name":"Financial Innovation","url":"https://www.academia.edu/Documents/in/Financial_Innovation"},{"id":299329,"name":"Outreach","url":"https://www.academia.edu/Documents/in/Outreach"},{"id":967457,"name":"Collateral","url":"https://www.academia.edu/Documents/in/Collateral"},{"id":1006340,"name":"Credit Rationing","url":"https://www.academia.edu/Documents/in/Credit_Rationing"}],"urls":[{"id":43462342,"url":"https://link.springer.com/content/pdf/10.1186/s40854-022-00384-z.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940068-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940067"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic"><img alt="Research paper thumbnail of Banks’ financial soundness during the COVID-19 pandemic" class="work-thumbnail" src="https://attachments.academia-assets.com/116704748/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic">Banks’ financial soundness during the COVID-19 pandemic</a></div><div class="wp-workCard_item"><span>Journal of Economics and Finance</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced sig...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="5d574b1736ba1c66b87073d8aef71491" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704748,"asset_id":121940067,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704748/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940067"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940067"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940067; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940067]").text(description); $(".js-view-count[data-work-id=121940067]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940067; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940067']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "5d574b1736ba1c66b87073d8aef71491" } } $('.js-work-strip[data-work-id=121940067]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940067,"title":"Banks’ financial soundness during the COVID-19 pandemic","translated_title":"","metadata":{"publisher":"Springer Science and Business Media LLC","ai_title_tag":"Bank Stability Risks Amid COVID-19","grobid_abstract":"Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.","publication_name":"Journal of Economics and Finance","grobid_abstract_attachment_id":116704748},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940067/Banks_financial_soundness_during_the_COVID_19_pandemic","translated_internal_url":"","created_at":"2024-07-10T10:20:48.433-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704748,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704748/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704748/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704748/s12197-022-09591-x-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=dVoCvNRMvRKO0W~Pz~AY8FwvwhAGMLgjlbSHcEnniLBY~141BgixRr9MCPXJryF5zT~FsUnV9Hy7pIxQF6cUH-VEkmqmFF~sfAuiy2ejP5MLmtkAxWmUyDMpXAGuVzJxozQ~xdZrcLwre6puCWHmq1PC6uU9lujPONR~jgtoYl4bHl8gS8QUGUYE6aJZQHOBF1t8IQjX3q~CFF6K524IkJBjD2wc1m473zHC0aLUMHDC5nU6G5UAlHMT28qfomVEuhOCh9oPGbom791k6hGQ0XEgNe86Qk8WJK6rHSTwHC8mQYSXhMP-u55dpP6l56t21iOgHHbYcAnZ2jywBC~gJA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Banks_financial_soundness_during_the_COVID_19_pandemic","translated_slug":"","page_count":23,"language":"en","content_type":"Work","summary":"Ever since the COVID-19 pandemic hit the global economy, banks all over the world experienced significant reductions in loan growth and increases in distressed and non-performing assets. The persistent increase in non-performing loans, accompanied by low interest rates, led to a surge in banking risk, posing a solemn threat to banks' stability. In this paper, we empirically assess the accounting-and marketbased risks of banks during the COVID-19 pandemic. Using a quarterly panel of international banks over the period 2020:Q1-2021:Q1, we find that banks exhibit greater accounting risk and increased return volatility during the pandemic. In particular, we report that a 1% growth of total COVID cases reduces (increases) our sample banks' z-score (standard deviation of quarterly return) by 0.756 (2.51%). Our results remain robust across alternative measures of the pandemic, z-score decomposition, and across daily and monthly stock returns. We obtain consistent results for both U.S. and non-U.S. banks, as well as for banks from both high-and low-income economies. We use a propensity score matching strategy to deal with endogeneity. Additional tests reveal that government responses such as economic support, stringency, and containment play important roles in banking risk and stability during the pandemic.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"SHpBUWNDRUlBYWM3cnRzY3NVby90VUFqcHVMdWZQb29WMEZmdWNQa2VmZz0tLW9ITW5LdWNsU294UHZkeVJhNmRYMUE9PQ==--0abde0c5d54ed10dd9a918b9cda0665560179cc5"},"attachments":[{"id":116704748,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704748/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704748/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704748/s12197-022-09591-x-libre.pdf?1720632921=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=dVoCvNRMvRKO0W~Pz~AY8FwvwhAGMLgjlbSHcEnniLBY~141BgixRr9MCPXJryF5zT~FsUnV9Hy7pIxQF6cUH-VEkmqmFF~sfAuiy2ejP5MLmtkAxWmUyDMpXAGuVzJxozQ~xdZrcLwre6puCWHmq1PC6uU9lujPONR~jgtoYl4bHl8gS8QUGUYE6aJZQHOBF1t8IQjX3q~CFF6K524IkJBjD2wc1m473zHC0aLUMHDC5nU6G5UAlHMT28qfomVEuhOCh9oPGbom791k6hGQ0XEgNe86Qk8WJK6rHSTwHC8mQYSXhMP-u55dpP6l56t21iOgHHbYcAnZ2jywBC~gJA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704751,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704751/thumbnails/1.jpg","file_name":"s12197-022-09591-x.pdf","download_url":"https://www.academia.edu/attachments/116704751/download_file","bulk_download_file_name":"Banks_financial_soundness_during_the_COV.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704751/s12197-022-09591-x-libre.pdf?1720632917=\u0026response-content-disposition=attachment%3B+filename%3DBanks_financial_soundness_during_the_COV.pdf\u0026Expires=1743362071\u0026Signature=Oa9j~-uAyIFKhKwkUqVuY0Kj3zlJ9SYMeKIzsl0JfX-QEf3IzokIrqy7vlbYBwP6CKVb65Kq6r1YAgGxsjZqM0UyrLvSUlVYLdd4Q3phk1oGaSN72e~50uekCSuF3k3hB7cvz7X7gxI2wWIhZhI6pFwJCWo1DXDOajndF8SPjFH64f2aUauP18Uu5DhOtdNgEj-Q9FVQ3InXf4vR0R6UwTGeXUfI3B5Oy1Vj8hXcEfp1HCoWzvrR51FfaglCjWeYwKghDnXs5sVt-GqLJW4EGHRAYHiN1WkkgdUly1NtzEdKu2NYfZZCnAVdkcAaDi2UvLr1ee9SNK2J4Eg1wzh2og__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":88182,"name":"Loan","url":"https://www.academia.edu/Documents/in/Loan"},{"id":418456,"name":"Economics Finance","url":"https://www.academia.edu/Documents/in/Economics_Finance-2"},{"id":732336,"name":"Endogeneity","url":"https://www.academia.edu/Documents/in/Endogeneity"},{"id":1028827,"name":"Pandemic","url":"https://www.academia.edu/Documents/in/Pandemic"},{"id":1865378,"name":"SOUNDNESS","url":"https://www.academia.edu/Documents/in/SOUNDNESS"},{"id":3079413,"name":"Finance and Investment Banking Area","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking_Area"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"},{"id":3686510,"name":"Coronavirus Disease 2019 (COVID-19)","url":"https://www.academia.edu/Documents/in/Coronavirus_Disease_2019_COVID-19_"}],"urls":[{"id":43462341,"url":"https://link.springer.com/content/pdf/10.1007/s12197-022-09591-x.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940067-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940066"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I"><img alt="Research paper thumbnail of Revitalization of Waqf for Socio-Economic Development, Volume I" class="work-thumbnail" src="https://attachments.academia-assets.com/116704789/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I">Revitalization of Waqf for Socio-Economic Development, Volume I</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The use of general descriptive names, registered names, trademarks, service marks, etc. in this p...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="e62a1211e3951c3af84f97919fcb987b" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704789,"asset_id":121940066,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704789/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940066"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940066"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940066; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940066]").text(description); $(".js-view-count[data-work-id=121940066]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940066; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940066']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "e62a1211e3951c3af84f97919fcb987b" } } $('.js-work-strip[data-work-id=121940066]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940066,"title":"Revitalization of Waqf for Socio-Economic Development, Volume I","translated_title":"","metadata":{"publisher":"Springer International Publishing","ai_title_tag":"Waqf Revitalization for Socio-Economic Growth","grobid_abstract":"The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.","publication_date":{"day":null,"month":null,"year":2019,"errors":{}},"grobid_abstract_attachment_id":116704789},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940066/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_internal_url":"","created_at":"2024-07-10T10:20:48.212-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704789,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704789/thumbnails/1.jpg","file_name":"bfm_978-3-030-18445-2_2F1.pdf","download_url":"https://www.academia.edu/attachments/116704789/download_file","bulk_download_file_name":"Revitalization_of_Waqf_for_Socio_Economi.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704789/bfm_978-3-030-18445-2_2F1-libre.pdf?1720632912=\u0026response-content-disposition=attachment%3B+filename%3DRevitalization_of_Waqf_for_Socio_Economi.pdf\u0026Expires=1743026686\u0026Signature=NfLzpQx7Kz5R9hPsx~7ZX4o4qPlYjS4bERgLSw5nIfk5Mx3EEAZwDC8Y9nkJ2oVYpqC~VOQj7AcnNBeJRsSC--77o3ZIDOhUWws-hPC6tqajHmXXbuYo9FcjxqcE9JfHl9HtfG8NDGUcFuifBdMUYoxL6afM46PGc5kwMcteUCNvrHRZpDAIQCoITNeT1YIEkUP1oa2IIn6CdjdG-8qYxmQQJ9Eq6wtdzXI5dPiY4dEO1NPtDOuPh~fAtlEpNiwp-P~0zgbrw8ib~-SCODiiIO6T9fmk823FNDBmcjvt~N6eEhNnF8zN9ygY7zrGzzBV3UH0lsKtv3ipa834EvtUwQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_slug":"","page_count":26,"language":"en","content_type":"Work","summary":"The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704789,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704789/thumbnails/1.jpg","file_name":"bfm_978-3-030-18445-2_2F1.pdf","download_url":"https://www.academia.edu/attachments/116704789/download_file","bulk_download_file_name":"Revitalization_of_Waqf_for_Socio_Economi.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704789/bfm_978-3-030-18445-2_2F1-libre.pdf?1720632912=\u0026response-content-disposition=attachment%3B+filename%3DRevitalization_of_Waqf_for_Socio_Economi.pdf\u0026Expires=1743026686\u0026Signature=NfLzpQx7Kz5R9hPsx~7ZX4o4qPlYjS4bERgLSw5nIfk5Mx3EEAZwDC8Y9nkJ2oVYpqC~VOQj7AcnNBeJRsSC--77o3ZIDOhUWws-hPC6tqajHmXXbuYo9FcjxqcE9JfHl9HtfG8NDGUcFuifBdMUYoxL6afM46PGc5kwMcteUCNvrHRZpDAIQCoITNeT1YIEkUP1oa2IIn6CdjdG-8qYxmQQJ9Eq6wtdzXI5dPiY4dEO1NPtDOuPh~fAtlEpNiwp-P~0zgbrw8ib~-SCODiiIO6T9fmk823FNDBmcjvt~N6eEhNnF8zN9ygY7zrGzzBV3UH0lsKtv3ipa834EvtUwQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":2808,"name":"Poverty","url":"https://www.academia.edu/Documents/in/Poverty"},{"id":5756,"name":"Microfinance","url":"https://www.academia.edu/Documents/in/Microfinance"},{"id":114817,"name":"Waqf","url":"https://www.academia.edu/Documents/in/Waqf"},{"id":549007,"name":"Cash","url":"https://www.academia.edu/Documents/in/Cash"},{"id":683459,"name":"Socio Economic Status","url":"https://www.academia.edu/Documents/in/Socio_Economic_Status"},{"id":731240,"name":"Endowment","url":"https://www.academia.edu/Documents/in/Endowment"},{"id":995931,"name":"Waqf Studies: Concept","url":"https://www.academia.edu/Documents/in/Waqf_Studies_Concept"},{"id":1792858,"name":"Palgrave Macmillan","url":"https://www.academia.edu/Documents/in/Palgrave_Macmillan"},{"id":3647879,"name":"Springer Ebooks","url":"https://www.academia.edu/Documents/in/Springer_Ebooks"}],"urls":[{"id":43462340,"url":"http://link.springer.com/content/pdf/10.1007/978-3-030-18445-2.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940065"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better"><img alt="Research paper thumbnail of Esg Activities and Bank Efficiency: Are Islamic Banks Better?" class="work-thumbnail" src="https://attachments.academia-assets.com/116704788/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better">Esg Activities and Bank Efficiency: Are Islamic Banks Better?</a></div><div class="wp-workCard_item"><span>Journal of Islamic Monetary Economics and Finance</span><span>, 2022</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">In this paper, we investigate the differential impact of ESG activities on banks’ technical effic...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-121940065-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-121940065-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484464/figure-1-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484472/figure-2-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484479/figure-3-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484485/figure-4-esg-activities-and-bank-efficiency-are-islamic"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/figure_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484489/table-1-however-since-our-research-objective-is-to-examine"><img alt="However, since our research objective is to examine the effect of ESG on the technical efficiency of both conventional and Islamic banks, we narrow dowr our sample and keep only those countries that have a formal Islamic finance and banking system. In particular, we have four MENA countries in our sample Kuwait, Qatar, Saudi Arabia, and United Arab Emirates (UAE). We generate « dummy variable D that is equal to 1 if a bank is originated from one of these fou: MENA countries, 0 otherwise. Further, we generate a dummy variable IB that i: equal to 1 if a bank’s specialization is reported as “Islamic bank”. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484493/table-1-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Table 1. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484500/table-2-number-of-conventional-and-islamic-banks-by-country"><img alt="Number of Conventional and Islamic Banks by Country Table 2. Table 3 presents the list of Islamic banks by country for each of the four countries. In particular, we report the name, mean total assets, and years available for all banks. Al Rajhi Banking and Investment Corporation from Saudi Arabia tops the list with an average total asset of USD 83,625 million. Kuwait Finance House and Dubai Islamic Bank, hold the 2° and 3" positions on the list with a mean total of USD 55,749.94 million and USD 45,046.62 million, respectively. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484505/table-4-list-of-islamic-banks-by-country-panel-and-of-report"><img alt="List of Islamic Banks by Country Panel A and B of Tables 4 report the summary statistics for conventiona and Islamic banks, respectively. Average DEA-generated technical efficiency for conventional banks is 0.388 or 38.8%, whereas the average technical efficiency of Islamic banks is 0.4245 or 42.45%. However, looking at the ESG scores o the two groups, we see an opposite image, except for ESG controversies score. Conventional banks, on average, have an overall ESG score of 36.5042, whereas the average overall ESG score for Islamic banks is 26.40. In terms of environmenta (ENV) pillar score, Islamic banks are lagging far behind as compared with conventional banks (a mean ENV pillar score of 4.63 for Islamic banks vs. 10.28 for non-Islamic banks) and clearly this is the category of ESG where the Islamic banks need to demonstrate significant improvements. Conventional banks have an. average social (SOC) pillar score of 29.10 with min and max scores of 3.41 and 75.20, respectively, whereas the mean SOC pillar score for Islamic banks is only 18.97 with min and max scores of 2.57 and 61.40, respectively. Conventional banks outperform the Islamic banks in the governance (GOV) category as well. A conventional bank has an average GOV pillar score of 57.20, whereas the average GOV pillar score for the Islamic banks is only 45.35. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484509/table-5-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_005.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484511/table-6-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_006.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484514/table-6-reports-the-baseline-results-from-tobit-regressions"><img alt="Table 6 reports the baseline results from Tobit regressions. Column 1 presents the results for all sample banks (conventional + Islamic). The estimated coefficient on ESG is 0.0029 with a p-value of 0.011, indicating significance at 5%. In terms of marginal effects, a 1% increase in a bank’s overall ESG score leads to a 0.2855% increase in its efficiency. Column 2 lays out the results for the sub-sample of conventional banks only. The coefficient on ESG is 0.0024 and highly significant with a p-value of 0.024. A 1% increase in a conventional bank’s ESG scores results in a 0.2358% increase in their level of efficiency. Lastly, column 3 reports the results for Islamic banks. The coefficient on ESG is positive (0.001) but statistically insignificant (p-value = 0.730). Clearly, ESG does not have a strong influence on the efficiency of Islamic banks. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_007.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484521/table-8-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Tobit Regressions " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_008.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484538/table-6-tobit-regressions-continued"><img alt="Tobit Regressions (Continued) Table 6. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_009.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484581/table-7-esg-pillar-scores-and-bank-efficiency"><img alt="ESG Pillar Scores and Bank Efficiency Table 7. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_010.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484593/table-7-esg-pillar-scores-and-bank-efficiency-continued"><img alt="ESG Pillar Scores and Bank Efficiency (Continued) Standard errors are in parenthesis; *** p<0.01, ** p<0.05, * p<0.1 Table 7. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_011.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/38484602/table-8-esg-activities-and-bank-efficiency-are-islamic-banks"><img alt="Robustness Analysis Table 8. " class="figure-slide-image" src="https://figures.academia-assets.com/116704788/table_012.jpg" /></a></figure></div><div class="next-slide-container js-next-button-container"><button aria-label="Next" class="carousel-navigation-button js-profile-work-121940065-figures-next"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_forward_ios</span></button></div></div></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="e9d7f125fb4244e5cc615bdaee539e9b" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704788,"asset_id":121940065,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704788/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940065"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940065"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940065; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940065]").text(description); $(".js-view-count[data-work-id=121940065]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940065; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940065']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "e9d7f125fb4244e5cc615bdaee539e9b" } } $('.js-work-strip[data-work-id=121940065]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940065,"title":"Esg Activities and Bank Efficiency: Are Islamic Banks Better?","translated_title":"","metadata":{"abstract":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","publisher":"Bank Indonesia, Central Banking Research Department","publication_date":{"day":null,"month":null,"year":2022,"errors":{}},"publication_name":"Journal of Islamic Monetary Economics and Finance"},"translated_abstract":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","internal_url":"https://www.academia.edu/121940065/Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better","translated_internal_url":"","created_at":"2024-07-10T10:20:48.062-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704788/thumbnails/1.jpg","file_name":"892.pdf","download_url":"https://www.academia.edu/attachments/116704788/download_file","bulk_download_file_name":"Esg_Activities_and_Bank_Efficiency_Are_I.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704788/892-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEsg_Activities_and_Bank_Efficiency_Are_I.pdf\u0026Expires=1743390567\u0026Signature=d5wWPv3F~fYkiAIPB~YkcNNnjvuT402EwbPGawl-DaD5FXWR1ViPUMBRM047FqELAo2uUpQ1lDNu0WgGud413Rq68lAFc3rpJXzs662UFuX00lU5l2FuyOfUkwGUdS1CNjAGGlyIF3z3oSZyLPnmT2NjDQw8XY2tZVAUzGOVi6c7KMbwROEfnlE2odRPLXz2wsmqCyw-HMC4UbV1gP7iOBV-HPYelNVnoKpiYaJbXnTgk1TBmewQvbWM4eghRFsu9L~TqlqVh7yxZLnEYhvPf--pUInufPjaYTYiixnSBh1uhBcUP-oarGlwF4aWKAB2DlHZ0rMIzaxd0ocECket1A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Esg_Activities_and_Bank_Efficiency_Are_Islamic_Banks_Better","translated_slug":"","page_count":24,"language":"en","content_type":"Work","summary":"In this paper, we investigate the differential impact of ESG activities on banks’ technical efficiency for conventional and Islamic banks. We employ a Data Envelopment Analysis (DEA) technique to determine the efficiency scores of the banks. Based on a sample of 14 conventional and 11 Islamic banks from 4 countries over the period 2011 - 2019, we find that average DEA-generated efficiency of conventional (Islamic) banks is about 38.8% (42.45%). Baseline Tobit regressions suggest that ESG has an overall positive impact on banks’ efficiency. Further, we analyze the relationship for conventional and Islamic banks separately. We find that the positive effect sustains for conventional banks but turns out to be insignificant for Islamic banks. Our individual ESG dimension-wise analyses suggest that environmental activities positively influence the efficiency of both conventional and Islamic banks, whereas social activities strengthen the efficiency of conventional banks only. We do not fi...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704788/thumbnails/1.jpg","file_name":"892.pdf","download_url":"https://www.academia.edu/attachments/116704788/download_file","bulk_download_file_name":"Esg_Activities_and_Bank_Efficiency_Are_I.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704788/892-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEsg_Activities_and_Bank_Efficiency_Are_I.pdf\u0026Expires=1743390567\u0026Signature=d5wWPv3F~fYkiAIPB~YkcNNnjvuT402EwbPGawl-DaD5FXWR1ViPUMBRM047FqELAo2uUpQ1lDNu0WgGud413Rq68lAFc3rpJXzs662UFuX00lU5l2FuyOfUkwGUdS1CNjAGGlyIF3z3oSZyLPnmT2NjDQw8XY2tZVAUzGOVi6c7KMbwROEfnlE2odRPLXz2wsmqCyw-HMC4UbV1gP7iOBV-HPYelNVnoKpiYaJbXnTgk1TBmewQvbWM4eghRFsu9L~TqlqVh7yxZLnEYhvPf--pUInufPjaYTYiixnSBh1uhBcUP-oarGlwF4aWKAB2DlHZ0rMIzaxd0ocECket1A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":17888,"name":"Data Envelopment Analysis","url":"https://www.academia.edu/Documents/in/Data_Envelopment_Analysis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":210122,"name":"Robustness (evolution)","url":"https://www.academia.edu/Documents/in/Robustness_evolution_"},{"id":423509,"name":"Tobit Model","url":"https://www.academia.edu/Documents/in/Tobit_Model"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (true) { Aedu.setUpFigureCarousel('profile-work-121940065-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940064"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking"><img alt="Research paper thumbnail of Chinese Equity Market Pricing and Loan Sales Discount in US Banking" class="work-thumbnail" src="https://attachments.academia-assets.com/116704786/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking">Chinese Equity Market Pricing and Loan Sales Discount in US Banking</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) mod...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="ffc0f07fd0257de0a121ad79ac1cdc88" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704786,"asset_id":121940064,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704786/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940064"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940064"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940064; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940064]").text(description); $(".js-view-count[data-work-id=121940064]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940064; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940064']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "ffc0f07fd0257de0a121ad79ac1cdc88" } } $('.js-work-strip[data-work-id=121940064]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940064,"title":"Chinese Equity Market Pricing and Loan Sales Discount in US Banking","translated_title":"","metadata":{"grobid_abstract":"In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"grobid_abstract_attachment_id":116704786},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940064/Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking","translated_internal_url":"","created_at":"2024-07-10T10:20:47.747-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704786,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704786/thumbnails/1.jpg","file_name":"387593481.pdf","download_url":"https://www.academia.edu/attachments/116704786/download_file","bulk_download_file_name":"Chinese_Equity_Market_Pricing_and_Loan_S.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704786/387593481-libre.pdf?1720632991=\u0026response-content-disposition=attachment%3B+filename%3DChinese_Equity_Market_Pricing_and_Loan_S.pdf\u0026Expires=1743362071\u0026Signature=fQleF1WK6q1DzsFKr2Yw1RLzXo9VEf1ESJtOfZtekBuHn6ZlKYx-xaXy-aifdrhNBPa~~oxN7zcJitegqcW~yUoP~6gur31bF4cDjFfMEab7bYX-hxCLKtJl8Ad4~3-my1C9qAljF2cqEcE7pkLCRwf4e6EChjcZnnFkUvzkN4IF6HN0cUWXTCQ~JlO8CD236laJsML5-fYlPQ82feUhiOucaxLDSg8TaHB7GvtNUuQPJzR1poPaxRHR-pGD7fuTrg2ICauK54oI1MByrYo~uf8vSAJNHWvsCv9Ava2QiYyNeqITXJ64Oqwi6Or7FohD0nTf20gujzXzbnchxp-kRw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Chinese_Equity_Market_Pricing_and_Loan_Sales_Discount_in_US_Banking","translated_slug":"","page_count":58,"language":"en","content_type":"Work","summary":"In the recent decades, the Fama-French three-factor (1992, 1993, 1996) and five-factor (2015) models become the most widely used asset pricing models in the world. The U.S. (i.e., developed financial market) country-specific 2 additional factors in the 5-factor model, RMW and CMA or profitability and investment premium, empirically cannot further capture the return variation of the classic three-factor/characteristic in China's stock market (i.e., developing financial markets). In China, based on our result, therefore, the classic threefactor outperforms the five-factor model. We do not presume that firms in different countries share the same features. Following Liu, Stambaugh, and Yuan (2019), we replaced the priceto-book ratio (PB) with the earnings-price ratio (EP). By using Shanghai and Shenzhen exchange stocks, we suggested that the explanatory uncertainty of HML only exists in the five-factor model. In the Fama MacBeth regression, the SMB and HML are significant factors in the three-factor model, explaining the return variation in China. Surprisingly, though the size effect is impressively persistent in both models, the ratio effect has limited explanatory power.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"UmdFME9XSUptSXo1dE5lQktFUHdFY1dUcGg3VEtHd0hWSmVBVy9zcVZBMD0tLXlWMkVHQXZjQVhtOHRnem9meWlNL3c9PQ==--5277311c0cde78617059d487791b40953821b61f"},"attachments":[{"id":116704786,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704786/thumbnails/1.jpg","file_name":"387593481.pdf","download_url":"https://www.academia.edu/attachments/116704786/download_file","bulk_download_file_name":"Chinese_Equity_Market_Pricing_and_Loan_S.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704786/387593481-libre.pdf?1720632991=\u0026response-content-disposition=attachment%3B+filename%3DChinese_Equity_Market_Pricing_and_Loan_S.pdf\u0026Expires=1743362071\u0026Signature=fQleF1WK6q1DzsFKr2Yw1RLzXo9VEf1ESJtOfZtekBuHn6ZlKYx-xaXy-aifdrhNBPa~~oxN7zcJitegqcW~yUoP~6gur31bF4cDjFfMEab7bYX-hxCLKtJl8Ad4~3-my1C9qAljF2cqEcE7pkLCRwf4e6EChjcZnnFkUvzkN4IF6HN0cUWXTCQ~JlO8CD236laJsML5-fYlPQ82feUhiOucaxLDSg8TaHB7GvtNUuQPJzR1poPaxRHR-pGD7fuTrg2ICauK54oI1MByrYo~uf8vSAJNHWvsCv9Ava2QiYyNeqITXJ64Oqwi6Or7FohD0nTf20gujzXzbnchxp-kRw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance"},{"id":1665,"name":"Asset Pricing","url":"https://www.academia.edu/Documents/in/Asset_Pricing"},{"id":88182,"name":"Loan","url":"https://www.academia.edu/Documents/in/Loan"},{"id":172189,"name":"Bailout","url":"https://www.academia.edu/Documents/in/Bailout"},{"id":457544,"name":"Depository Institutions","url":"https://www.academia.edu/Documents/in/Depository_Institutions"},{"id":1462110,"name":"Chinese Stock Market","url":"https://www.academia.edu/Documents/in/Chinese_Stock_Market"},{"id":1753712,"name":"Equity Law","url":"https://www.academia.edu/Documents/in/Equity_Law"},{"id":2609728,"name":"Financial Institutions and Services","url":"https://www.academia.edu/Documents/in/Financial_Institutions_and_Services"},{"id":2609729,"name":"Government Policy and Regulation","url":"https://www.academia.edu/Documents/in/Government_Policy_and_Regulation"},{"id":3913892,"name":"Fdic","url":"https://www.academia.edu/Documents/in/Fdic"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940064-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940063"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach"><img alt="Research paper thumbnail of Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach" class="work-thumbnail" src="https://attachments.academia-assets.com/116704756/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach">Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach</a></div><div class="wp-workCard_item"><span>International Journal of Economics and Politics</span><span>, 2021</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This research investigates how Islamic banking institutions control default cases and the mechani...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="4813c52c899d157630c6ede686701e40" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704756,"asset_id":121940063,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704756/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940063"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940063"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940063; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940063]").text(description); $(".js-view-count[data-work-id=121940063]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940063; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940063']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "4813c52c899d157630c6ede686701e40" } } $('.js-work-strip[data-work-id=121940063]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940063,"title":"Mechanisms to Handle Default Cases in Islamic Banking: The Malaysian Approach","translated_title":"","metadata":{"publisher":"Armenian Green Publishing Co.","ai_title_tag":"Default Case Management in Malaysian Islamic Banking","grobid_abstract":"This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.","publication_date":{"day":null,"month":null,"year":2021,"errors":{}},"publication_name":"International Journal of Economics and Politics","grobid_abstract_attachment_id":116704756},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940063/Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach","translated_internal_url":"","created_at":"2024-07-10T10:20:47.510-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704756,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704756/thumbnails/1.jpg","file_name":"article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf","download_url":"https://www.academia.edu/attachments/116704756/download_file","bulk_download_file_name":"Mechanisms_to_Handle_Default_Cases_in_Is.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704756/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e-libre.pdf?1720632922=\u0026response-content-disposition=attachment%3B+filename%3DMechanisms_to_Handle_Default_Cases_in_Is.pdf\u0026Expires=1743362071\u0026Signature=Og9E6G0bZIdzythjq8S20E7VwXitVTiD7l85kDKvNG5KgFLOiwo060GWJ0NKJ4ZoGYiKzKLDgRfORrpkjkYkD~N8VRHmh8jWN34IyDKcUCRw~3Ymm0fT1AK6dADfeKXLlGH6CXqNjO1unPlkJKF38NmcOk7GIBSkDI~CzuprwZNHJyYkjAFT8HCDQ-jy2U4bv15eWw7zA~5uF5osynJV6kHtraPjuNjB2RQ3-t57RK-f3qScGcyJvKg~~NtfE1dzyNOn3CxFOGrZyJYUko4CfUWvP6C13JO4WoXYcr7JJAJEmLkNIEuFTKHYHYceGZX9Bro7o5zhbev-i~mT1F9~RA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Mechanisms_to_Handle_Default_Cases_in_Islamic_Banking_The_Malaysian_Approach","translated_slug":"","page_count":19,"language":"en","content_type":"Work","summary":"This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though Islamic banks statutorily have wider scope than conventional ones, both banks are subject of the same framework in matter of credit risk regulations in Malaysia. The fusion of technology within procedures and governance mechanisms of dealing with default cases offers distinct benefits for Islamic banks in Malaysia. Analysis and reasoning in this research are restricted to the Malaysian Islamic banking regime only due to legal peculiarities among Islamic finance jurisdictions. Likewise, the research is confined to legal and regulatory perception of default cases only and could be furthered onto perceptions of other stakeholders in debt-recovery process. Again, subjective interpretation is inevitable in the analysis of some cases considered.This research contributes towards default cases literature in relation to Islamic banks and offers to fill research gaps therein. The research assists in understanding default control mechanisms employed by Islamic banks in Malaysia and stands to impart lessons to other jurisdictions thereon.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"QmNUNTVLTVFsUHhrbDVVaDhFL200am8vd3RvTWhwa2JnWkhRME5Xc1JoMD0tLVhmL0dmckoxaE1qNy8rUmtjVU84VEE9PQ==--b9bdcc0910dd09e14f2d50755111db8457cd705c"},"attachments":[{"id":116704756,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704756/thumbnails/1.jpg","file_name":"article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf","download_url":"https://www.academia.edu/attachments/116704756/download_file","bulk_download_file_name":"Mechanisms_to_Handle_Default_Cases_in_Is.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704756/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e-libre.pdf?1720632922=\u0026response-content-disposition=attachment%3B+filename%3DMechanisms_to_Handle_Default_Cases_in_Is.pdf\u0026Expires=1743362071\u0026Signature=Og9E6G0bZIdzythjq8S20E7VwXitVTiD7l85kDKvNG5KgFLOiwo060GWJ0NKJ4ZoGYiKzKLDgRfORrpkjkYkD~N8VRHmh8jWN34IyDKcUCRw~3Ymm0fT1AK6dADfeKXLlGH6CXqNjO1unPlkJKF38NmcOk7GIBSkDI~CzuprwZNHJyYkjAFT8HCDQ-jy2U4bv15eWw7zA~5uF5osynJV6kHtraPjuNjB2RQ3-t57RK-f3qScGcyJvKg~~NtfE1dzyNOn3CxFOGrZyJYUko4CfUWvP6C13JO4WoXYcr7JJAJEmLkNIEuFTKHYHYceGZX9Bro7o5zhbev-i~mT1F9~RA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt"},{"id":271529,"name":"Economics and Politics","url":"https://www.academia.edu/Documents/in/Economics_and_Politics-1"}],"urls":[{"id":43462339,"url":"http://jep.sbu.ac.ir/article_100536_ae9857a3511a4a05ffb9e1991d30fd9e.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940063-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940062"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life"><img alt="Research paper thumbnail of Introduction: empirical research on Islam and economic life" class="work-thumbnail" src="https://attachments.academia-assets.com/116704783/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life">Introduction: empirical research on Islam and economic life</a></div><div class="wp-workCard_item"><span>Handbook of Empirical Research on Islam and Economic Life</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The turmoil left in the wake of the global financial crisis presents an opportune time to rethink...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="10ffeb39d435d92565de1c540367c194" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704783,"asset_id":121940062,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704783/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940062"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940062"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940062; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940062]").text(description); $(".js-view-count[data-work-id=121940062]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940062; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940062']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "10ffeb39d435d92565de1c540367c194" } } $('.js-work-strip[data-work-id=121940062]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940062,"title":"Introduction: empirical research on Islam and economic life","translated_title":"","metadata":{"publisher":"Edward Elgar Publishing","ai_title_tag":"Islamic Finance: Ethics and Economic Justice","grobid_abstract":"The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing","publication_name":"Handbook of Empirical Research on Islam and Economic Life","grobid_abstract_attachment_id":116704783},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940062/Introduction_empirical_research_on_Islam_and_economic_life","translated_internal_url":"","created_at":"2024-07-10T10:20:47.268-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704783,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704783/thumbnails/1.jpg","file_name":"1a9633801fa0f4f5775ed5268e2977fc8e74.pdf","download_url":"https://www.academia.edu/attachments/116704783/download_file","bulk_download_file_name":"Introduction_empirical_research_on_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704783/1a9633801fa0f4f5775ed5268e2977fc8e74-libre.pdf?1720632914=\u0026response-content-disposition=attachment%3B+filename%3DIntroduction_empirical_research_on_Islam.pdf\u0026Expires=1743362071\u0026Signature=QrtUCEoH9gQVNoOavxThTP0U-At3Kq8vc6jY3CkMUZhwlsrfuujJhrOT1X1lw5QeI1qQ51~3HqsIeTXdztgZZhgC48Qr2WVgQPhelJbekeBTuZHA2TglS2smSPo3fnMP~AlOBZ6p5cdW3HezRGiFqsHZDe2Fjrjy-GTaHUCBiVqOlSVyJjb4NKsEAXw77sqTwivizVvZ6w2Ydha4CiuaEgC6j3Zw80~Pj4hcSMsdu3ninsthmraIWy5u1Y2h37UG86PEgS8ZXcpzv8eEuQkDku89n6AnY4rew8DQBGBGAXFJz2jmPNCiib6cDWGROc-iC37MJ2WaETveII0pin7JIA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Introduction_empirical_research_on_Islam_and_economic_life","translated_slug":"","page_count":20,"language":"en","content_type":"Work","summary":"The turmoil left in the wake of the global financial crisis presents an opportune time to rethink the government invention/free market dichotomy that has characterized the bulk of conventional wisdom regarding the international financial system. Islamic finance, with its emphasis on reducing risk and preventing harm before it occurs rather than minimizing harm after the fact, offers a compelling approach to finance that can thwart market failures and avert crises before they start. The unique character of Islamic finance flows naturally from the example of the Holy Quran, and as such there is an unmistakable moral component to it. Islamic finance is built on a foundation of socioeconomic justice for all and sustainable growth facilitated by prudent stewardship of natural resources so that future generations may also enjoy the fruits of economic development. Islamic finance's requirement of shariah-compliance leads to a host of rules and regulations that distinguish it from conventional finance. Chief among them are the prohibition of usury (riba), gambling (maisir) and unjustified ambiguity (gharar), the prerequisite that income be derived from productive economic activities and profits be shared fairly, and the ban on investing in certain industries that are considered forbidden (haram) owing to their toxic effects on society. These idiosyncrasies of Islamic finance clearly help spread socioeconomic justice throughout society. The ban on interest protects the poor from falling victim to predatory lending which exacerbates the cycle of poverty. It also compels the wealthy to invest in projects that have actual value in the real economy rather than passively letting their money grow automatically without putting in any real effort or, worse yet, gambling with other people's money in wild speculation schemes. The often exploitative relationship between borrower and lender is thus replaced by a more equitable arrangement governed by profit-and-loss sharing (PLS) contracts. Under the terms of a PLS contract, both parties have rights and responsibilities and share in any profits or losses that may accrue. By cultivating a more sensible relationship between risk and reward, PLS contracts bolster productive economic activity and entrepreneurship. Financiers do not view borrowers as pawns to be manipulated in their endless quest to maximize profits, but rather as partners. The admonition against gharar helps to ensure that one party to an economic transaction does not exploit the other party by withholding information or giving misleading information. Transparency is of paramount importance. This helps reduce fraud and alleviates the negative effects of information asymmetries, as all parties are apprised of the risks involved and can make informed decisions about their investment. As outlined above, Islamic finance is not merely concerned with maximizing profit. It is part of a larger moral and ethical code of behavior that permeates all facets of society. This code dictates that it is better to forgo the possibility of profit all together if doing","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"N2hraHBIeUdIajQvNk5CemNpbE5SYXJmT2FUUVVaKzUwTnVCcUFtcHR1bz0tLXJDTmpoalBFSTdUalBoMHFrY1o3VEE9PQ==--fb74f82a7f717b6bec1820f9c094e6bf7ae4e81c"},"attachments":[{"id":116704783,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704783/thumbnails/1.jpg","file_name":"1a9633801fa0f4f5775ed5268e2977fc8e74.pdf","download_url":"https://www.academia.edu/attachments/116704783/download_file","bulk_download_file_name":"Introduction_empirical_research_on_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704783/1a9633801fa0f4f5775ed5268e2977fc8e74-libre.pdf?1720632914=\u0026response-content-disposition=attachment%3B+filename%3DIntroduction_empirical_research_on_Islam.pdf\u0026Expires=1743362071\u0026Signature=QrtUCEoH9gQVNoOavxThTP0U-At3Kq8vc6jY3CkMUZhwlsrfuujJhrOT1X1lw5QeI1qQ51~3HqsIeTXdztgZZhgC48Qr2WVgQPhelJbekeBTuZHA2TglS2smSPo3fnMP~AlOBZ6p5cdW3HezRGiFqsHZDe2Fjrjy-GTaHUCBiVqOlSVyJjb4NKsEAXw77sqTwivizVvZ6w2Ydha4CiuaEgC6j3Zw80~Pj4hcSMsdu3ninsthmraIWy5u1Y2h37UG86PEgS8ZXcpzv8eEuQkDku89n6AnY4rew8DQBGBGAXFJz2jmPNCiib6cDWGROc-iC37MJ2WaETveII0pin7JIA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940062-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940061"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments"><img alt="Research paper thumbnail of Economic analysis of Islamic monetary framework and instruments" class="work-thumbnail" src="https://attachments.academia-assets.com/116704744/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments">Economic analysis of Islamic monetary framework and instruments</a></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">• Levine (2002) using crosscountry data argues that financial development is robustly linked with...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c618c4e3f79c38093f44a679bd97026c" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704744,"asset_id":121940061,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704744/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940061"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940061"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940061; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940061]").text(description); $(".js-view-count[data-work-id=121940061]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940061; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940061']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c618c4e3f79c38093f44a679bd97026c" } } $('.js-work-strip[data-work-id=121940061]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940061,"title":"Economic analysis of Islamic monetary framework and instruments","translated_title":"","metadata":{"grobid_abstract":"• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"grobid_abstract_attachment_id":116704744},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940061/Economic_analysis_of_Islamic_monetary_framework_and_instruments","translated_internal_url":"","created_at":"2024-07-10T10:20:47.040-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704744,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704744/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704744/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704744/islamic-economy-workshop-vii-libre.pdf?1720632930=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=O3TI~3dqGKayb~LbrLKyzjMUmp3O8uunFEZ39AXTTzlwHCYqxKR9aVdUSNLTGjvYdz5LafpkJr7Y4cA0BlM6xssPGBwDQcXzRxoRp1qcaQ5x-ojP-vokR-JnyFrk1mbdshvCWB6VuMLJf3C8Dfc1fm4a2MHaHaCGnzRDKMfKrNJo9fiLYbmH36PUzA0LM48iEgWg3lR-0ek9QyCVcSHVMscxk4tD5xcNE8LResC~qmKUY3GeIRl-FnPf552xnLd5jpZnd2XJHzhktridjkqa~y9UsWtm54~7CfRM6WlOHSWMmGDoY6R1VmvFybkWZj88PCe~8ajN6PPxFV1RV7GwPg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Economic_analysis_of_Islamic_monetary_framework_and_instruments","translated_slug":"","page_count":31,"language":"en","content_type":"Work","summary":"• Levine (2002) using crosscountry data argues that financial development is robustly linked with economic growth. • Furthermore, Hassan et al. (2011) find a positive relationship between financial development and economic growth in OIC (Organization of Islamic Cooperation) developing countries. Caveats • In the interest based financial intermediation, the access to finance is available primarily to rich capitalists who can reveal the financial capacity in the form of endowments that are acceptable as collateral. • The majority of people who do not have ownership of assets that are acceptable as collateral remain excluded especially from the financial credit services. • WB estimates total unbanked population to be 1.7 billion in 2017 and 2 billion in 2014) • Increased penetration and deepening of such a financial architecture brings about growth, but also exacerbates income inequality.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704744,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704744/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704744/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704744/islamic-economy-workshop-vii-libre.pdf?1720632930=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=O3TI~3dqGKayb~LbrLKyzjMUmp3O8uunFEZ39AXTTzlwHCYqxKR9aVdUSNLTGjvYdz5LafpkJr7Y4cA0BlM6xssPGBwDQcXzRxoRp1qcaQ5x-ojP-vokR-JnyFrk1mbdshvCWB6VuMLJf3C8Dfc1fm4a2MHaHaCGnzRDKMfKrNJo9fiLYbmH36PUzA0LM48iEgWg3lR-0ek9QyCVcSHVMscxk4tD5xcNE8LResC~qmKUY3GeIRl-FnPf552xnLd5jpZnd2XJHzhktridjkqa~y9UsWtm54~7CfRM6WlOHSWMmGDoY6R1VmvFybkWZj88PCe~8ajN6PPxFV1RV7GwPg__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704745,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704745/thumbnails/1.jpg","file_name":"islamic-economy-workshop-vii.pdf","download_url":"https://www.academia.edu/attachments/116704745/download_file","bulk_download_file_name":"Economic_analysis_of_Islamic_monetary_fr.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704745/islamic-economy-workshop-vii-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DEconomic_analysis_of_Islamic_monetary_fr.pdf\u0026Expires=1743390567\u0026Signature=UNuStZUPiY3KQ4-em1JVpKID87z7CwZKGjjPHmMKCXI9k1ZCPPK5Bw8w-anCanu7X9k0~YaFWu58G24bm3yjAVaJEgV8ANa2121x~bmB5grNLurljemeza~ZqHF8l9u4yQtd9Hy9VUYk4-lro81lMywa-ZDPKNVdEAHRqHz2thTlEKXBw3sKT4DOer7sDvZCr5YBE4D7DlaIqpTB~hcBPy6aPNCFITto5VnOt088vs2TZrijl419kefepcOWvrXbXtotkyTP3gASncV02ezZSrBoLwtBBAi0dQZ5x2QMRpNRXj7iuF-uNohdO38ivYjqNpKXPyAZKYHwOXog71WcYA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"}],"urls":[{"id":43462338,"url":"https://islamiceconomicsproject.files.wordpress.com/2020/07/islamic-economy-workshop-vii.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940061-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940060"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic"><img alt="Research paper thumbnail of Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?" class="work-thumbnail" src="https://attachments.academia-assets.com/116704785/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic">Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?</a></div><div class="wp-workCard_item"><span>Global Finance Journal</span><span>, 2021</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study evaluates the safe-haven role of twelve assets against the US stock market during the ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a13408404be7fe6055e43a603be200c3" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704785,"asset_id":121940060,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704785/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940060"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940060"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940060; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940060]").text(description); $(".js-view-count[data-work-id=121940060]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940060; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940060']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a13408404be7fe6055e43a603be200c3" } } $('.js-work-strip[data-work-id=121940060]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940060,"title":"Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.","publication_date":{"day":null,"month":null,"year":2021,"errors":{}},"publication_name":"Global Finance Journal","grobid_abstract_attachment_id":116704785},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940060/Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic","translated_internal_url":"","created_at":"2024-07-10T10:20:46.808-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704785,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704785/thumbnails/1.jpg","file_name":"pmc8575456.pdf","download_url":"https://www.academia.edu/attachments/116704785/download_file","bulk_download_file_name":"Are_safe_haven_assets_really_safe_during.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704785/pmc8575456-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DAre_safe_haven_assets_really_safe_during.pdf\u0026Expires=1743362072\u0026Signature=YqfwWqGSAcP04NsV6CId3impALRHNfMNkTPlg4CGKJmpXs~wCR17LVxDzVqdmCPzlvQearyWSKnke~2QCdEB3kfqUnn8RvWs0F7Gtje4tpfi4ZlRS95FdJZj~xfezMNNdWldaxGflNc5Gwj9sVmX~EB7aFHRmo-mX528p0Os8hHfUVycI2rHnKOxqQypo5Un6EREp2RfP4yFuOsdr1F7V8p20xnJQRv20gUKU6wa~1cIyDB3Oe6PPXzzyWKi0Po-YXN55w7wo2ZlwKhp1HoNntLp4WVEJm-aHVXgj3KYgiwL4aRnbNYI8e~2hyEEqeDQtxdfvftleYb7TM5xlyidzA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Are_safe_haven_assets_really_safe_during_the_2008_global_financial_crisis_and_COVID_19_pandemic","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"This study evaluates the safe-haven role of twelve assets against the US stock market during the 2008 global financial crisis (GFC) and the COVID-19 pandemic. Our results show that silver and the Islamic stock index were safe havens during the 2008 GFC, and the Islamic stock index and Tether have been safe havens during COVID-19. We observe that the Islamic stock index and Tether have emerged as strong new safe havens. However, our supplementary analysis reveals that gold and Bitcoin still exhibit safe-haven behavior during severe market downturns. Overall, our findings suggest that safe-haven assets may vary over time.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"L1FSazNUYjk3eFBaN2tzaGFhQUFPZjMrWUF2c2l4M2hyUWFHU3BEZmFyQT0tLVpOOFFUV1E3N3UxUGdHb0JMUDd5Znc9PQ==--5b53aba472dd30467b878bd1b8361b17fb227bad"},"attachments":[{"id":116704785,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704785/thumbnails/1.jpg","file_name":"pmc8575456.pdf","download_url":"https://www.academia.edu/attachments/116704785/download_file","bulk_download_file_name":"Are_safe_haven_assets_really_safe_during.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704785/pmc8575456-libre.pdf?1720632933=\u0026response-content-disposition=attachment%3B+filename%3DAre_safe_haven_assets_really_safe_during.pdf\u0026Expires=1743362072\u0026Signature=YqfwWqGSAcP04NsV6CId3impALRHNfMNkTPlg4CGKJmpXs~wCR17LVxDzVqdmCPzlvQearyWSKnke~2QCdEB3kfqUnn8RvWs0F7Gtje4tpfi4ZlRS95FdJZj~xfezMNNdWldaxGflNc5Gwj9sVmX~EB7aFHRmo-mX528p0Os8hHfUVycI2rHnKOxqQypo5Un6EREp2RfP4yFuOsdr1F7V8p20xnJQRv20gUKU6wa~1cIyDB3Oe6PPXzzyWKi0Po-YXN55w7wo2ZlwKhp1HoNntLp4WVEJm-aHVXgj3KYgiwL4aRnbNYI8e~2hyEEqeDQtxdfvftleYb7TM5xlyidzA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":29156,"name":"Stock Market","url":"https://www.academia.edu/Documents/in/Stock_Market"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":80649,"name":"Global Finance","url":"https://www.academia.edu/Documents/in/Global_Finance"},{"id":1028827,"name":"Pandemic","url":"https://www.academia.edu/Documents/in/Pandemic"},{"id":1291254,"name":"Haven","url":"https://www.academia.edu/Documents/in/Haven"},{"id":2236298,"name":"Safe Haven","url":"https://www.academia.edu/Documents/in/Safe_Haven"},{"id":2573323,"name":"Stock Market Index","url":"https://www.academia.edu/Documents/in/Stock_Market_Index"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"},{"id":3686510,"name":"Coronavirus Disease 2019 (COVID-19)","url":"https://www.academia.edu/Documents/in/Coronavirus_Disease_2019_COVID-19_"}],"urls":[{"id":43462337,"url":"https://api.elsevier.com/content/article/PII:S1044028321000661?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940060-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940059"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds"><img alt="Research paper thumbnail of Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds" class="work-thumbnail" src="https://attachments.academia-assets.com/116704742/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds">Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds</a></div><div class="wp-workCard_item"><span>Journal of Islamic Monetary Economics and Finance</span><span>, 2020</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper investigates the determinants and their factors that affect governments’ decision to e...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="8c9b8d4142d755fd7a154a7b779853de" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704742,"asset_id":121940059,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704742/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940059"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940059"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940059; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940059]").text(description); $(".js-view-count[data-work-id=121940059]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940059; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940059']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "8c9b8d4142d755fd7a154a7b779853de" } } $('.js-work-strip[data-work-id=121940059]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940059,"title":"Sovereign Debt Issuance Choice: Sukuk vs Conventional Bonds","translated_title":"","metadata":{"abstract":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","publisher":"Bank Indonesia, Central Banking Research Department","ai_title_tag":"Sovereign Sukuk vs Conventional Bonds: Determinants","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"publication_name":"Journal of Islamic Monetary Economics and Finance"},"translated_abstract":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","internal_url":"https://www.academia.edu/121940059/Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds","translated_internal_url":"","created_at":"2024-07-10T10:20:45.340-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704742,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704742/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704742/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704742/803-libre.pdf?1720632936=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=W8NhciIsEfuP6NeN7JZwYrbn1lqxdaHpOeVLUvM4cJjbBh5lN0zXo6UxPCnMBAdUYH2T1FewXTcDNMcQCBtrW5PXA-4Uh85iIK5yLZhFSZh5zWhgwVLF7GVqfeVlcSeWNaZlS7I9YJJ4qcb8phBI8zowEm~BIi9jns4jIUpK5~4AX3MUmIMMKy6bp8FyKikuq3zU4Zak5CF0bGSLPvGrHwOQyR9F7eL60nnMQIf7ZO5RBxMP~1g81jDKDrGjIE-kXF-d6V9zdBURgHnVRCNT-SNulAK7doLyp4U1SG9i3YP32hMDgsP3GU2vQkDmszvVBCaZxG64oNcUW9StdnEb9Q__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Sovereign_Debt_Issuance_Choice_Sukuk_vs_Conventional_Bonds","translated_slug":"","page_count":20,"language":"en","content_type":"Work","summary":"This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries from 2000 to 2015. The results depict that more nations that have developed financial markets, higher credit quality, and strong economic/financial prospects, issue sovereign Sukuk rather than sovereign conventional bonds. Dealing with Sukuk bonds can be a strategy to diversify and develop current debt markets by introducing newly-developed debt tools. However, less economically developed nations countries are typically issuing insurance for classic sovereign bonds. Our findings suggest that a government’s choice of sovereign debt is influenced mainly from national financial and macroeconomic indicators, as well as specific events. Countries with developed financial markets, strong economic indicators, high credit quality, and susta...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"NjdUdjZsL1BLaHg4NldGaEdCa1dHREZNUGE1OVloKzh6cmV3MDNEeFNlND0tLU55MENhd2FweTA5V240VFNEb0tzM2c9PQ==--ef810d9ff5cb31db28798ec9fbde39fd0069233b"},"attachments":[{"id":116704742,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704742/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704742/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704742/803-libre.pdf?1720632936=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=W8NhciIsEfuP6NeN7JZwYrbn1lqxdaHpOeVLUvM4cJjbBh5lN0zXo6UxPCnMBAdUYH2T1FewXTcDNMcQCBtrW5PXA-4Uh85iIK5yLZhFSZh5zWhgwVLF7GVqfeVlcSeWNaZlS7I9YJJ4qcb8phBI8zowEm~BIi9jns4jIUpK5~4AX3MUmIMMKy6bp8FyKikuq3zU4Zak5CF0bGSLPvGrHwOQyR9F7eL60nnMQIf7ZO5RBxMP~1g81jDKDrGjIE-kXF-d6V9zdBURgHnVRCNT-SNulAK7doLyp4U1SG9i3YP32hMDgsP3GU2vQkDmszvVBCaZxG64oNcUW9StdnEb9Q__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"},{"id":116704743,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704743/thumbnails/1.jpg","file_name":"803.pdf","download_url":"https://www.academia.edu/attachments/116704743/download_file","bulk_download_file_name":"Sovereign_Debt_Issuance_Choice_Sukuk_vs.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704743/803-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DSovereign_Debt_Issuance_Choice_Sukuk_vs.pdf\u0026Expires=1743362072\u0026Signature=J-zCsfZQ40PInV58fjb2ksEfx1b0AX6FXNsbXSE9tdqk7Eq8C4NqrbDNuwYSp8hr9U9fnY4mujomVfeInmvYjfTwVxXMN2pLPXrRpfw9gOV5dVTBchzDDeblWkWkDYRJ2U~h5weB6~uokzAspV3Aulxq0oJvztRfpxtCI0inlC75KtEIuzNI80ypMDFWr60Sy-XlESEZrMnajkohKiqTurkF1iPd2Caa-PJJaAjjZITyfzTbIPLxLGZkeWlQqGnAmA9RQdaURKhK28RvCL8jYATkhwQD~XmEXUqFqKU3wt3wDtypxwMlzkyKBKEFRDjF40a2871pw7mSKN1lX7WJ2A__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":3661,"name":"Sovereignty","url":"https://www.academia.edu/Documents/in/Sovereignty"},{"id":49199,"name":"Sukuk","url":"https://www.academia.edu/Documents/in/Sukuk"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":235753,"name":"Debt","url":"https://www.academia.edu/Documents/in/Debt"},{"id":298391,"name":"Bond","url":"https://www.academia.edu/Documents/in/Bond"}],"urls":[{"id":43462336,"url":"https://jimf-bi.org/index.php/JIMF/article/download/1104/803"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940059-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940058"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks"><img alt="Research paper thumbnail of The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks" class="work-thumbnail" src="https://attachments.academia-assets.com/116704781/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks">The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks</a></div><div class="wp-workCard_item"><span>Pacific-Basin Finance Journal</span><span>, 2020</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">The paper investigates the relationship between risk, capital and efficiency for Islamic and conv...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="8ab7b89ed84c18a1845a2f570b4a8856" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704781,"asset_id":121940058,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704781/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940058"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940058"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940058; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940058]").text(description); $(".js-view-count[data-work-id=121940058]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940058; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940058']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "8ab7b89ed84c18a1845a2f570b4a8856" } } $('.js-work-strip[data-work-id=121940058]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940058,"title":"The inter-temporal relationship between risk, capital and efficiency: The case of Islamic and conventional banks","translated_title":"","metadata":{"publisher":"Elsevier BV","ai_title_tag":"Risk, Capital, and Efficiency in Banking","grobid_abstract":"The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.","publication_date":{"day":null,"month":null,"year":2020,"errors":{}},"publication_name":"Pacific-Basin Finance Journal","grobid_abstract_attachment_id":116704781},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940058/The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks","translated_internal_url":"","created_at":"2024-07-10T10:20:45.069-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704781,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704781/thumbnails/1.jpg","file_name":"SAEED_Feb2020.pdf","download_url":"https://www.academia.edu/attachments/116704781/download_file","bulk_download_file_name":"The_inter_temporal_relationship_between.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704781/SAEED_Feb2020-libre.pdf?1720632937=\u0026response-content-disposition=attachment%3B+filename%3DThe_inter_temporal_relationship_between.pdf\u0026Expires=1743390567\u0026Signature=Jhwv-8PxEYdrHVwlGHUg3WWWxfnJ5MUJBxfPk-1mzxwXkLfCf7L9w2IIPGRWu~5s7-IiSXa~J96L5XCxzhROBSRKbhxK7tesZGUhMC0NyDa7mdfOSdjwFl6wDoR7C-QzwEWCyUfV0IUeLHU~XYM9pQgUWUyiylf1-3Cj1EIa~mMR-VU9~62oDIYIFhAsv5a1IalL53QkcHA0OiCsHZnjPoWFuLOMmj3OcCzzXLejq8lKr0~u-ZPsnM5aGpHhlf6VXMicH5u8xo-9UX3RNRLdAyt5Oxk7mK~xfZSfXwneHpHHGWYrfMPxMs8D-QDYzvBJshiRBmT8PC1zvrmY-MXskw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_inter_temporal_relationship_between_risk_capital_and_efficiency_The_case_of_Islamic_and_conventional_banks","translated_slug":"","page_count":37,"language":"en","content_type":"Work","summary":"The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704781,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704781/thumbnails/1.jpg","file_name":"SAEED_Feb2020.pdf","download_url":"https://www.academia.edu/attachments/116704781/download_file","bulk_download_file_name":"The_inter_temporal_relationship_between.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704781/SAEED_Feb2020-libre.pdf?1720632937=\u0026response-content-disposition=attachment%3B+filename%3DThe_inter_temporal_relationship_between.pdf\u0026Expires=1743390567\u0026Signature=Jhwv-8PxEYdrHVwlGHUg3WWWxfnJ5MUJBxfPk-1mzxwXkLfCf7L9w2IIPGRWu~5s7-IiSXa~J96L5XCxzhROBSRKbhxK7tesZGUhMC0NyDa7mdfOSdjwFl6wDoR7C-QzwEWCyUfV0IUeLHU~XYM9pQgUWUyiylf1-3Cj1EIa~mMR-VU9~62oDIYIFhAsv5a1IalL53QkcHA0OiCsHZnjPoWFuLOMmj3OcCzzXLejq8lKr0~u-ZPsnM5aGpHhlf6VXMicH5u8xo-9UX3RNRLdAyt5Oxk7mK~xfZSfXwneHpHHGWYrfMPxMs8D-QDYzvBJshiRBmT8PC1zvrmY-MXskw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":361468,"name":"Capital Adequacy Ratio","url":"https://www.academia.edu/Documents/in/Capital_Adequacy_Ratio"},{"id":393547,"name":"Insolvency","url":"https://www.academia.edu/Documents/in/Insolvency"},{"id":1753712,"name":"Equity Law","url":"https://www.academia.edu/Documents/in/Equity_Law"},{"id":2210371,"name":"Hg","url":"https://www.academia.edu/Documents/in/Hg"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[{"id":43462335,"url":"https://api.elsevier.com/content/article/PII:S0927538X19305992?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940058-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940057"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries"><img alt="Research paper thumbnail of Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries" class="work-thumbnail" src="https://attachments.academia-assets.com/116704778/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries">Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries</a></div><div class="wp-workCard_item"><span>Journal of Islamic Economics Banking and Finance</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper investigates the inter-temporal relationships between bank efficiency and problem loan...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="bacf56371b28bfea92e07c64dc2f5b52" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704778,"asset_id":121940057,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704778/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940057"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940057"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940057; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940057]").text(description); $(".js-view-count[data-work-id=121940057]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940057; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940057']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "bacf56371b28bfea92e07c64dc2f5b52" } } $('.js-work-strip[data-work-id=121940057]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940057,"title":"Non-Performing Loans and Bank Efficiency of Conventional and Islamic Banks in the Organization of Islamic Cooperation (OIC) Countries","translated_title":"","metadata":{"publisher":"TechKnowledge General Trading LLC","grobid_abstract":"This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"Journal of Islamic Economics Banking and Finance","grobid_abstract_attachment_id":116704778},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940057/Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries","translated_internal_url":"","created_at":"2024-07-10T10:20:44.826-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704778,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704778/thumbnails/1.jpg","file_name":"v13_n4_article2.pdf","download_url":"https://www.academia.edu/attachments/116704778/download_file","bulk_download_file_name":"Non_Performing_Loans_and_Bank_Efficiency.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704778/v13_n4_article2-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DNon_Performing_Loans_and_Bank_Efficiency.pdf\u0026Expires=1743390567\u0026Signature=dAI-zUsiGsFmFBtJQ-hzvFE23nfx1Upbd~ho8aE2rbYXJUt61klMCoHfpfL-ONc6GhDuWgy8tcNWQwby4Bic0FYKhBjM~vzKKhcqSG9BliKVDJz8gogQ-IA8Ah78tpKiqY~zf8koxveMn6Xvl0W-4mqxc0LUuCPAYuhOANd6N~Pt3BBjbgUl44fknRVWZBSVI~8wury7M-1zRuprzzgkA~rRu41dct1ijeYa5R-OsbpZi3yxQSKXnj2BWS49a5CTOb3jzXYC8N4dmSkIAvNn6yGxtky6OK9q2Tjx0e4Kz5AbJQ8pjGSwimjtNtrIKg1LVUI1iQ~G9pz1kKn0rpzHNw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Non_Performing_Loans_and_Bank_Efficiency_of_Conventional_and_Islamic_Banks_in_the_Organization_of_Islamic_Cooperation_OIC_Countries","translated_slug":"","page_count":27,"language":"en","content_type":"Work","summary":"This paper investigates the inter-temporal relationships between bank efficiency and problem loans as well as financing of conventional and Islamic banks as proposed by Berger and DeYoung (1997). The efficiency level and the managerial behavior of conventional and Islamic banks in the Organization of Islamic Cooperation (OIC) countries divided into the regions: Asian, African, Middle East and Turkey are investigated during the period 1993-2007. The findings show that cost efficiency is higher than profit efficiency for the sampled banks in the OIC countries. As for the inter-temporal relationships between bank efficiency and problem loans and financing, suggests that there is no evidence for 'bad luck' of conventional banks in all regions, but support the 'bad management' and 'skimping' except in the African region. On the other hand for Islamic banks, there is evidence of 'bad luck' in Asia, the Middle East and Turkey, and support for 'bad management' in African and Middle East region and Turkey, except in Asia. All regions support 'skimping' behavior for Islamic banks. These findings imply that the increase of non-performing loans of conventional banks is mainly caused by poor management rather than external factors, but the increase of non-performing financing of Islamic banks are caused by both internal and external factors.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704778,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704778/thumbnails/1.jpg","file_name":"v13_n4_article2.pdf","download_url":"https://www.academia.edu/attachments/116704778/download_file","bulk_download_file_name":"Non_Performing_Loans_and_Bank_Efficiency.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704778/v13_n4_article2-libre.pdf?1720632920=\u0026response-content-disposition=attachment%3B+filename%3DNon_Performing_Loans_and_Bank_Efficiency.pdf\u0026Expires=1743390567\u0026Signature=dAI-zUsiGsFmFBtJQ-hzvFE23nfx1Upbd~ho8aE2rbYXJUt61klMCoHfpfL-ONc6GhDuWgy8tcNWQwby4Bic0FYKhBjM~vzKKhcqSG9BliKVDJz8gogQ-IA8Ah78tpKiqY~zf8koxveMn6Xvl0W-4mqxc0LUuCPAYuhOANd6N~Pt3BBjbgUl44fknRVWZBSVI~8wury7M-1zRuprzzgkA~rRu41dct1ijeYa5R-OsbpZi3yxQSKXnj2BWS49a5CTOb3jzXYC8N4dmSkIAvNn6yGxtky6OK9q2Tjx0e4Kz5AbJQ8pjGSwimjtNtrIKg1LVUI1iQ~G9pz1kKn0rpzHNw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":256944,"name":"Islamic Banking and Finance/Islamic Economics","url":"https://www.academia.edu/Documents/in/Islamic_Banking_and_Finance_Islamic_Economics"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940057-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940056"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/121940056/Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life"><img alt="Research paper thumbnail of Handbook of Empirical Resarch on Islam and Economic Life" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Handbook of Empirical Resarch on Islam and Economic Life</div><div class="wp-workCard_item"><span>Southeast Asian Economies</span><span>, 2018</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940056"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940056"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940056; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940056]").text(description); $(".js-view-count[data-work-id=121940056]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940056; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940056']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=121940056]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940056,"title":"Handbook of Empirical Resarch on Islam and Economic Life","translated_title":"","metadata":{"publisher":"ISEAS - Yusof Ishak Institute","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"Southeast Asian Economies"},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940056/Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life","translated_internal_url":"","created_at":"2024-07-10T10:20:44.652-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Handbook_of_Empirical_Resarch_on_Islam_and_Economic_Life","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":187205,"name":"Classical economics","url":"https://www.academia.edu/Documents/in/Classical_economics"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940056-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940055"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems"><img alt="Research paper thumbnail of Determinants of Bank Capital in Dual Banking Systems" class="work-thumbnail" src="https://attachments.academia-assets.com/116704779/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems">Determinants of Bank Capital in Dual Banking Systems</a></div><div class="wp-workCard_item"><span>SSRN Electronic Journal</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">We report new evidence on the bank and country-level determinants of Islamic bank capital ratios ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="085babf241bfb80ec34c158f2893cf45" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704779,"asset_id":121940055,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704779/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940055"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940055"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940055; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940055]").text(description); $(".js-view-count[data-work-id=121940055]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940055; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940055']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "085babf241bfb80ec34c158f2893cf45" } } $('.js-work-strip[data-work-id=121940055]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940055,"title":"Determinants of Bank Capital in Dual Banking Systems","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"SSRN Electronic Journal","grobid_abstract_attachment_id":116704779},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940055/Determinants_of_Bank_Capital_in_Dual_Banking_Systems","translated_internal_url":"","created_at":"2024-07-10T10:20:44.512-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704779,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704779/thumbnails/1.jpg","file_name":"2017-WP-04_Bitar_Hassan_Hippler.pdf","download_url":"https://www.academia.edu/attachments/116704779/download_file","bulk_download_file_name":"Determinants_of_Bank_Capital_in_Dual_Ban.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704779/2017-WP-04_Bitar_Hassan_Hippler-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DDeterminants_of_Bank_Capital_in_Dual_Ban.pdf\u0026Expires=1743362072\u0026Signature=gAvT6ShR-EtQ8UVu1yKYkmKZqYKzMy3ORbNa6slFG2d87GG68WRap1XX5OYejuBK~byFDK8GG1fW4uLN7ygB~uniAhQ75y0l4ggaB0vQxJ-e0n5kxlQ~0xae5INOpsKmjKIc9tJ2F2r2BMzVY9Riggou0R9UqIvJSl2IpW2qQnmh5LcSQVuqP4Ijtt71Mpp2hKQmmXntKL3acH~NXo9XUbn7OnMfU73iIWO4JVBlEpccMjFx~10NW4b462LV1v79DD9dlwh5dTnM5oZhPhe7KeNEWLvoLs5rTHf87EbBTQynKlFzSw9Njp5a~dGKeVLeozLrHmCzwYr6tp-ynVbYVw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Determinants_of_Bank_Capital_in_Dual_Banking_Systems","translated_slug":"","page_count":45,"language":"en","content_type":"Work","summary":"We report new evidence on the bank and country-level determinants of Islamic bank capital ratios in 28 countries between 1999 and 2013. Overall, we find that smaller, more profitable, and highly liquid Islamic banks are more highly capitalized. Additionally, improvements in the economic and financial environments and market discipline within a country correspond with higher Islamic bank capitalization. The results shed light on the impact that Sharia'a law restrictions have on Islamic banking capitalization. Our findings are most robust to banks that choose to hold capital well in excess of that required by regulators, consistent with traditional capital structure theory. Our results highlight the role that stable economic and political systems play in improving bank capitalization and reducing financial sector risk. By reducing political instability and corruption, improving legal systems, and encouraging access to capital markets, policymakers may incentivize mangers to make financing decisions that increase the capitalization of the Islamic banking industry in developing countries. About the Authors : Mohammad Bitar holds a PhD degree in Finance from Grenoble Alps University in France. He is a Post-Doctoral fellow at the David O'Brien Center for Sustainable Enterprise. Dr. Bitar teaches masters level courses in banking regulation and economics at the Faculty of Business Administration and Economics of Lebanese University. His current research interests focus on ethical and alternative financial systems, corporate governance, mergers and acquisitions, and corporate social responsibility. M.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"S08vU09PVHJpbDRXZy9xd2cwckthOWZkSFZ0MHFOM2NYa0hVU00vSjcraz0tLXJIeVBhSkxsOUxMMFQ3Y09GQXlxUEE9PQ==--89f0956e6537de292ce31bf705534c7d0e8786db"},"attachments":[{"id":116704779,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704779/thumbnails/1.jpg","file_name":"2017-WP-04_Bitar_Hassan_Hippler.pdf","download_url":"https://www.academia.edu/attachments/116704779/download_file","bulk_download_file_name":"Determinants_of_Bank_Capital_in_Dual_Ban.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704779/2017-WP-04_Bitar_Hassan_Hippler-libre.pdf?1720632931=\u0026response-content-disposition=attachment%3B+filename%3DDeterminants_of_Bank_Capital_in_Dual_Ban.pdf\u0026Expires=1743362072\u0026Signature=gAvT6ShR-EtQ8UVu1yKYkmKZqYKzMy3ORbNa6slFG2d87GG68WRap1XX5OYejuBK~byFDK8GG1fW4uLN7ygB~uniAhQ75y0l4ggaB0vQxJ-e0n5kxlQ~0xae5INOpsKmjKIc9tJ2F2r2BMzVY9Riggou0R9UqIvJSl2IpW2qQnmh5LcSQVuqP4Ijtt71Mpp2hKQmmXntKL3acH~NXo9XUbn7OnMfU73iIWO4JVBlEpccMjFx~10NW4b462LV1v79DD9dlwh5dTnM5oZhPhe7KeNEWLvoLs5rTHf87EbBTQynKlFzSw9Njp5a~dGKeVLeozLrHmCzwYr6tp-ynVbYVw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":23029,"name":"Retail Banking","url":"https://www.academia.edu/Documents/in/Retail_Banking"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":361468,"name":"Capital Adequacy Ratio","url":"https://www.academia.edu/Documents/in/Capital_Adequacy_Ratio"},{"id":1006322,"name":"Capitalization","url":"https://www.academia.edu/Documents/in/Capitalization"},{"id":3273604,"name":"Dual (grammatical number)","url":"https://www.academia.edu/Documents/in/Dual_grammatical_number_"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940055-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940054"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds"><img alt="Research paper thumbnail of The determinants of co-movement dynamics between sukuk and conventional bonds" class="work-thumbnail" src="https://attachments.academia-assets.com/116704774/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds">The determinants of co-movement dynamics between sukuk and conventional bonds</a></div><div class="wp-workCard_item"><span>The Quarterly Review of Economics and Finance</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islam...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="1482fc79b99e31493bb5ca4e54ea7112" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704774,"asset_id":121940054,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704774/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940054"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940054"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940054; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940054]").text(description); $(".js-view-count[data-work-id=121940054]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940054; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940054']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "1482fc79b99e31493bb5ca4e54ea7112" } } $('.js-work-strip[data-work-id=121940054]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940054,"title":"The determinants of co-movement dynamics between sukuk and conventional bonds","translated_title":"","metadata":{"publisher":"Elsevier BV","grobid_abstract":"Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"The Quarterly Review of Economics and Finance","grobid_abstract_attachment_id":116704774},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940054/The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds","translated_internal_url":"","created_at":"2024-07-10T10:20:44.233-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704774,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704774/thumbnails/1.jpg","file_name":"99277.pdf","download_url":"https://www.academia.edu/attachments/116704774/download_file","bulk_download_file_name":"The_determinants_of_co_movement_dynamics.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704774/99277-libre.pdf?1720632910=\u0026response-content-disposition=attachment%3B+filename%3DThe_determinants_of_co_movement_dynamics.pdf\u0026Expires=1743026687\u0026Signature=CHi6etmTKFalze~w4cqAe0Zzz-hyWdQF1MbFFGahURlgysVhEwxFesbxFwbi5G2bmIrrCZ8XmWWAIS1QNS2mlmRo4lC7lwqiW7h1g2MDPm9mRzanAPjHHtD1S-gC4~JqCB5pIQtJYm-JNjPdZn7rO~585D3vuNv22142gW7JnvbE~xij7rK-oo6E~QPyyOiB56KmTQkqhfIZRYOTQis5C5yaebt0efy5GAbRIM0CExECra9ttSw13hirb0V2jnFhg8mHu9xa-bZ1SZWfnqYb9bnowzpOSvI5FW9jXGBCQGA4z~2CTg3Gs63nPKc1JYeAiZtF6ib~Ka~K4hr7rqUijQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"The_determinants_of_co_movement_dynamics_between_sukuk_and_conventional_bonds","translated_slug":"","page_count":3,"language":"en","content_type":"Work","summary":"Highlights  We analyze the conditional correlations and volatility linkages between sukuk (Islamic bonds) and conventional bond markets.  We also investigate the elements affecting co-movement paths and the determinants of sukuk-corporate bond dynamic conditional correlation changes.  We find lower dynamic conditional correlations between sukuk and the US and European bond markets, but increase volatility linkages during shocks.  The benefits of international diversification across sukuk and bonds tend to decrease significantly during periods of high volatility.  We unveil the strong impact on co-movement paths of oil prices, US credit event information, stock market uncertainty and liquidity shocks.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704774,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704774/thumbnails/1.jpg","file_name":"99277.pdf","download_url":"https://www.academia.edu/attachments/116704774/download_file","bulk_download_file_name":"The_determinants_of_co_movement_dynamics.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704774/99277-libre.pdf?1720632910=\u0026response-content-disposition=attachment%3B+filename%3DThe_determinants_of_co_movement_dynamics.pdf\u0026Expires=1743026687\u0026Signature=CHi6etmTKFalze~w4cqAe0Zzz-hyWdQF1MbFFGahURlgysVhEwxFesbxFwbi5G2bmIrrCZ8XmWWAIS1QNS2mlmRo4lC7lwqiW7h1g2MDPm9mRzanAPjHHtD1S-gC4~JqCB5pIQtJYm-JNjPdZn7rO~585D3vuNv22142gW7JnvbE~xij7rK-oo6E~QPyyOiB56KmTQkqhfIZRYOTQis5C5yaebt0efy5GAbRIM0CExECra9ttSw13hirb0V2jnFhg8mHu9xa-bZ1SZWfnqYb9bnowzpOSvI5FW9jXGBCQGA4z~2CTg3Gs63nPKc1JYeAiZtF6ib~Ka~K4hr7rqUijQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":49199,"name":"Sukuk","url":"https://www.academia.edu/Documents/in/Sukuk"},{"id":55550,"name":"Diversification","url":"https://www.academia.edu/Documents/in/Diversification"},{"id":298391,"name":"Bond","url":"https://www.academia.edu/Documents/in/Bond"},{"id":918187,"name":"Corporate Bonds","url":"https://www.academia.edu/Documents/in/Corporate_Bonds"},{"id":2279244,"name":"Multivariate GARCH","url":"https://www.academia.edu/Documents/in/Multivariate_GARCH"}],"urls":[{"id":43462334,"url":"https://api.elsevier.com/content/article/PII:S1062976917300741?httpAccept=text/xml"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940053"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms"><img alt="Research paper thumbnail of Corporate Social Responsibility of Islamic Labeled Firms" class="work-thumbnail" src="https://attachments.academia-assets.com/116704782/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms">Corporate Social Responsibility of Islamic Labeled Firms</a></div><div class="wp-workCard_item"><span>SSRN Electronic Journal</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S&P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="52537aca2d21e53eff7b604a6efaeeda" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704782,"asset_id":121940053,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704782/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940053"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940053"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940053; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940053]").text(description); $(".js-view-count[data-work-id=121940053]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940053; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940053']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "52537aca2d21e53eff7b604a6efaeeda" } } $('.js-work-strip[data-work-id=121940053]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940053,"title":"Corporate Social Responsibility of Islamic Labeled Firms","translated_title":"","metadata":{"publisher":"Elsevier BV","ai_title_tag":"CSR Analysis of U.S. Islamic Compliant Firms","grobid_abstract":"This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S\u0026P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"SSRN Electronic Journal","grobid_abstract_attachment_id":116704782},"translated_abstract":null,"internal_url":"https://www.academia.edu/121940053/Corporate_Social_Responsibility_of_Islamic_Labeled_Firms","translated_internal_url":"","created_at":"2024-07-10T10:20:44.004-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704782,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704782/thumbnails/1.jpg","file_name":"ssrn.330543020240710-1-zq6xj5.pdf","download_url":"https://www.academia.edu/attachments/116704782/download_file","bulk_download_file_name":"Corporate_Social_Responsibility_of_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704782/ssrn.330543020240710-1-zq6xj5-libre.pdf?1720632940=\u0026response-content-disposition=attachment%3B+filename%3DCorporate_Social_Responsibility_of_Islam.pdf\u0026Expires=1743362072\u0026Signature=D-CjRmSH9lw1dcfNSaTqkJP46137KfVQGm6QcA5Bfdv6koMi~zC2i~5oNgt4AZRHaeW0Sml~fM84dNKHw1-jKd5TuyoTXn1rs0UcR-8UjFTiPL3~5RJ-1B5LXhHGYSDVJVvMxp4Rue3j4-W0Snp0t74oX8bAQhgaOhpBb1edq8Zc-NV-0hqN3c~w2zRRSDEORcH45OV2wz7DYx223d2C0zzc2Bi3b3ysASWSdg0m4ONSRd4yv1gVJdOZ66J9m9tyub~cHI7zvQHp4hOU-Ch6DX0OBupigfb0SnaT1E83uSoqTWKEnOG4TLfw~~3s~kxLqLaNx5x~f9HQQMMR-x362w__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Corporate_Social_Responsibility_of_Islamic_Labeled_Firms","translated_slug":"","page_count":54,"language":"en","content_type":"Work","summary":"This paper presents a comprehensive investigation of the CSR activities of U.S.-based firms that are labeled more compliant with Islamic law. We aim to differentiate between facts and myths with regard to the common belief that religion-compliant firms have better CSR conduct. Firms that are more compliant with Islamic law have higher overall CSR scores. However, these firms are not superior when it comes to the human rights and governance aspects of CSR. Interestingly, aside from the mechanical association with controversial aspects of CSR, firms involved in sin industries do not seem to have inferior CSR scores. We create an index to measure Islamic-compliance that overcomes several flaws in the binary measures adopted by Dow Jones, Morgan Stanley, S\u0026P, and FTSE, among others, that are used in 131 countries to manage the multi-trillion dollar Islamic finance industry. Our empirical results show that firms that use less leverage and hoard less cash have a better and more persistent CSR score. Our findings are consistent with the insider-initiated corporate philanthropy hypothesis.","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan","email":"UU5ncmhHdXlubFFUVjYvOVJlMFFsK043UVpldnRvNkJ4SHc1ZWtZVkhhVT0tLStvVXVibjlFKzVWdzFnU1JOUXhCTkE9PQ==--8a0fb3d44a455173c7f2a367d7592da7d7263236"},"attachments":[{"id":116704782,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704782/thumbnails/1.jpg","file_name":"ssrn.330543020240710-1-zq6xj5.pdf","download_url":"https://www.academia.edu/attachments/116704782/download_file","bulk_download_file_name":"Corporate_Social_Responsibility_of_Islam.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704782/ssrn.330543020240710-1-zq6xj5-libre.pdf?1720632940=\u0026response-content-disposition=attachment%3B+filename%3DCorporate_Social_Responsibility_of_Islam.pdf\u0026Expires=1743362072\u0026Signature=D-CjRmSH9lw1dcfNSaTqkJP46137KfVQGm6QcA5Bfdv6koMi~zC2i~5oNgt4AZRHaeW0Sml~fM84dNKHw1-jKd5TuyoTXn1rs0UcR-8UjFTiPL3~5RJ-1B5LXhHGYSDVJVvMxp4Rue3j4-W0Snp0t74oX8bAQhgaOhpBb1edq8Zc-NV-0hqN3c~w2zRRSDEORcH45OV2wz7DYx223d2C0zzc2Bi3b3ysASWSdg0m4ONSRd4yv1gVJdOZ66J9m9tyub~cHI7zvQHp4hOU-Ch6DX0OBupigfb0SnaT1E83uSoqTWKEnOG4TLfw~~3s~kxLqLaNx5x~f9HQQMMR-x362w__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":1452,"name":"Corporate Social Responsibility","url":"https://www.academia.edu/Documents/in/Corporate_Social_Responsibility"},{"id":15866,"name":"Islam","url":"https://www.academia.edu/Documents/in/Islam"},{"id":27673,"name":"Sharia","url":"https://www.academia.edu/Documents/in/Sharia"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":732336,"name":"Endogeneity","url":"https://www.academia.edu/Documents/in/Endogeneity"},{"id":921017,"name":"Corporation","url":"https://www.academia.edu/Documents/in/Corporation"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940053-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121940052"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors"><img alt="Research paper thumbnail of Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors" class="work-thumbnail" src="https://attachments.academia-assets.com/116704780/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors">Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors</a></div><div class="wp-workCard_item"><span>Journal of Business Accounting and Finance Perspectives</span><span>, 2018</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">his study examines (i) the dynamic shocks and volatility interactions between each of the eleven ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="5257a189f2f5fe7df7eb07fb959ca3c6" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":116704780,"asset_id":121940052,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/116704780/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121940052"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121940052"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121940052; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121940052]").text(description); $(".js-view-count[data-work-id=121940052]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121940052; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121940052']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "5257a189f2f5fe7df7eb07fb959ca3c6" } } $('.js-work-strip[data-work-id=121940052]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121940052,"title":"Dynamic Volatility and Shock Interactions Between Oil and the U.S. Economic Sectors","translated_title":"","metadata":{"abstract":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","publisher":"MDPI AG","ai_title_tag":"Oil Volatility's Impact on U.S. Economic Sectors","publication_date":{"day":null,"month":null,"year":2018,"errors":{}},"publication_name":"Journal of Business Accounting and Finance Perspectives"},"translated_abstract":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","internal_url":"https://www.academia.edu/121940052/Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors","translated_internal_url":"","created_at":"2024-07-10T10:20:43.728-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":116704780,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704780/thumbnails/1.jpg","file_name":"pdf.pdf","download_url":"https://www.academia.edu/attachments/116704780/download_file","bulk_download_file_name":"Dynamic_Volatility_and_Shock_Interaction.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704780/pdf-libre.pdf?1720632925=\u0026response-content-disposition=attachment%3B+filename%3DDynamic_Volatility_and_Shock_Interaction.pdf\u0026Expires=1743390567\u0026Signature=YApc7UcYtPI1A2Tccgir05C4AfgIzY8afIl1pmqIk7hLWhUrOJzuJA~TdCg2WoIheRWKrprtLoi7Lg6GlbGDG8~xoFv4yYIZhsa05qjja8KjwIx5ZfNTKWkwaNvjRqiitgFWysEpP1z1m8kjXb0rMhtOZU7dX43ywUGzZE30JWYwMNK7UTF0CIN9fqzy3N35KbnTEsMoP5KSExkP9uLMtJzTp1rshwutUXR71RFRdKzVXTbH4V20LrAEWdnxIlErOc7IsCwqMIVdbBhfUGR4PH0oiq3zhT4l6xZwONdUBPSgcIwl6XvZmi7gPFgy5AYIeqrzeXlLjLgSK6cKxARDtQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Dynamic_Volatility_and_Shock_Interactions_Between_Oil_and_the_U_S_Economic_Sectors","translated_slug":"","page_count":34,"language":"en","content_type":"Work","summary":"his study examines (i) the dynamic shocks and volatility interactions between each of the eleven U.S. economic sectors and the oil market; (ii) riskminimizing optimal capital allocations between each sector and oil; and (iii) the hedging effectiveness resulting from the inclusion of oil in each sector portfolio. Using weekly data spanning the period June 1994 through February 2016, we document the following regularities: (i) the conditional correlation between each sector and the oil market is time-varying and slowly decaying; (ii) there is either volatility or shock transmission from oil to each sector but not the reverse; and (iii) investors can minimize and hedge risk by allocating a portion of their wealth to oil commodities and forming a portfolio consisting of sector stocks and oil commodities. however, they will need to overweight their investment in sector stocks. Our findings indicate that oil commodities offer diversification potential to U.S. investors holding sector port...","owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[{"id":116704780,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/116704780/thumbnails/1.jpg","file_name":"pdf.pdf","download_url":"https://www.academia.edu/attachments/116704780/download_file","bulk_download_file_name":"Dynamic_Volatility_and_Shock_Interaction.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/116704780/pdf-libre.pdf?1720632925=\u0026response-content-disposition=attachment%3B+filename%3DDynamic_Volatility_and_Shock_Interaction.pdf\u0026Expires=1743390567\u0026Signature=YApc7UcYtPI1A2Tccgir05C4AfgIzY8afIl1pmqIk7hLWhUrOJzuJA~TdCg2WoIheRWKrprtLoi7Lg6GlbGDG8~xoFv4yYIZhsa05qjja8KjwIx5ZfNTKWkwaNvjRqiitgFWysEpP1z1m8kjXb0rMhtOZU7dX43ywUGzZE30JWYwMNK7UTF0CIN9fqzy3N35KbnTEsMoP5KSExkP9uLMtJzTp1rshwutUXR71RFRdKzVXTbH4V20LrAEWdnxIlErOc7IsCwqMIVdbBhfUGR4PH0oiq3zhT4l6xZwONdUBPSgcIwl6XvZmi7gPFgy5AYIeqrzeXlLjLgSK6cKxARDtQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":16219,"name":"Asset Allocation","url":"https://www.academia.edu/Documents/in/Asset_Allocation"},{"id":61216,"name":"Portfolio","url":"https://www.academia.edu/Documents/in/Portfolio"}],"urls":[{"id":43462333,"url":"https://jbafp.jams.pub/article/1/1/4/pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121940052-figures'); } }); </script> </div><div class="profile--tab_content_container js-tab-pane tab-pane" data-section-id="9547756" id="books"><div class="js-work-strip profile--work_container" data-work-id="40023667"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023667/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_II"><img alt="Research paper thumbnail of Revitalization of Waqf for Socio-Economic Development, Volume II" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Revitalization of Waqf for Socio-Economic Development, Volume II</div><div class="wp-workCard_item"><span>Palgrave-MacMillan</span><span>, 2019</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023667"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023667"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023667; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023667]").text(description); $(".js-view-count[data-work-id=40023667]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023667; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023667']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023667]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023667,"title":"Revitalization of Waqf for Socio-Economic Development, Volume II","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2019,"errors":{}},"publication_name":"Palgrave-MacMillan"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023667/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_II","translated_internal_url":"","created_at":"2019-08-06T12:42:18.739-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_II","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21840,"name":"Socio-Economic Status","url":"https://www.academia.edu/Documents/in/Socio-Economic_Status"},{"id":995931,"name":"Waqf Studies: Concept","url":"https://www.academia.edu/Documents/in/Waqf_Studies_Concept"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023667-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023658"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023658/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I"><img alt="Research paper thumbnail of Revitalization of Waqf for Socio-Economic Development, Volume I" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Revitalization of Waqf for Socio-Economic Development, Volume I</div><div class="wp-workCard_item"><span>Palgrave-MacMillan</span><span>, 2019</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023658"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023658"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023658; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023658]").text(description); $(".js-view-count[data-work-id=40023658]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023658; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023658']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023658]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023658,"title":"Revitalization of Waqf for Socio-Economic Development, Volume I","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2019,"errors":{}},"publication_name":"Palgrave-MacMillan"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023658/Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_internal_url":"","created_at":"2019-08-06T12:41:21.043-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Revitalization_of_Waqf_for_Socio_Economic_Development_Volume_I","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21840,"name":"Socio-Economic Status","url":"https://www.academia.edu/Documents/in/Socio-Economic_Status"},{"id":995931,"name":"Waqf Studies: Concept","url":"https://www.academia.edu/Documents/in/Waqf_Studies_Concept"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023658-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023449"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023449/Handbook_on_Empirical_Research_on_Islam_and_Economic_Life"><img alt="Research paper thumbnail of Handbook on Empirical Research on Islam and Economic Life" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Handbook on Empirical Research on Islam and Economic Life</div><div class="wp-workCard_item"><span>Edward Elgar Publishing Company</span><span>, 2017</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023449"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023449"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023449; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023449]").text(description); $(".js-view-count[data-work-id=40023449]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023449; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023449']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023449]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023449,"title":"Handbook on Empirical Research on Islam and Economic Life","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"Edward Elgar Publishing Company"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023449/Handbook_on_Empirical_Research_on_Islam_and_Economic_Life","translated_internal_url":"","created_at":"2019-08-06T11:53:06.185-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Handbook_on_Empirical_Research_on_Islam_and_Economic_Life","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":33711,"name":"Islamic Banking And Finance","url":"https://www.academia.edu/Documents/in/Islamic_Banking_And_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023449-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023439"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023439/Handbook_on_Islam_and_Economic_Life"><img alt="Research paper thumbnail of Handbook on Islam and Economic Life" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Handbook on Islam and Economic Life</div><div class="wp-workCard_item"><span>Edward Elgar Publishing Company</span><span>, 2014</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023439"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023439"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023439; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023439]").text(description); $(".js-view-count[data-work-id=40023439]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023439; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023439']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023439]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023439,"title":"Handbook on Islam and Economic Life","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2014,"errors":{}},"publication_name":"Edward Elgar Publishing Company"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023439/Handbook_on_Islam_and_Economic_Life","translated_internal_url":"","created_at":"2019-08-06T11:51:47.325-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Handbook_on_Islam_and_Economic_Life","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":33711,"name":"Islamic Banking And Finance","url":"https://www.academia.edu/Documents/in/Islamic_Banking_And_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023439-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023427"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023427/Islamic_Entrepreneurship"><img alt="Research paper thumbnail of Islamic Entrepreneurship" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islamic Entrepreneurship</div><div class="wp-workCard_item"><span>Routledge Publishing Company</span><span>, 2010</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023427"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023427"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023427; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023427]").text(description); $(".js-view-count[data-work-id=40023427]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023427; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023427']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023427]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023427,"title":"Islamic Entrepreneurship","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2010,"errors":{}},"publication_name":"Routledge Publishing Company"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023427/Islamic_Entrepreneurship","translated_internal_url":"","created_at":"2019-08-06T11:49:47.888-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Islamic_Entrepreneurship","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":612349,"name":"Islamic Technology Enterpreneurship","url":"https://www.academia.edu/Documents/in/Islamic_Technology_Enterpreneurship"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023427-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023423"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023423/Handbook_of_Islamic_Banking"><img alt="Research paper thumbnail of Handbook of Islamic Banking" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Handbook of Islamic Banking</div><div class="wp-workCard_item"><span>. Edward Elgar Publishing, Cheltenham, UK</span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023423"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023423"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023423; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023423]").text(description); $(".js-view-count[data-work-id=40023423]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023423; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023423']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023423]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023423,"title":"Handbook of Islamic Banking","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":". Edward Elgar Publishing, Cheltenham, UK"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023423/Handbook_of_Islamic_Banking","translated_internal_url":"","created_at":"2019-08-06T11:48:53.298-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Handbook_of_Islamic_Banking","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":33711,"name":"Islamic Banking And Finance","url":"https://www.academia.edu/Documents/in/Islamic_Banking_And_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023423-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023416"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023416/The_International_Library_of_Critical_Writings_in_Economics"><img alt="Research paper thumbnail of The International Library of Critical Writings in Economics." class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The International Library of Critical Writings in Economics.</div><div class="wp-workCard_item"><span>Edward Elgar Publishing, Cheltenham, UK </span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023416"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023416"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023416; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023416]").text(description); $(".js-view-count[data-work-id=40023416]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023416; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023416']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023416]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023416,"title":"The International Library of Critical Writings in Economics.","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Edward Elgar Publishing, Cheltenham, UK "},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023416/The_International_Library_of_Critical_Writings_in_Economics","translated_internal_url":"","created_at":"2019-08-06T11:48:06.474-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"The_International_Library_of_Critical_Writings_in_Economics","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":249312,"name":"Critical Writing","url":"https://www.academia.edu/Documents/in/Critical_Writing"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023416-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023393"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023393/On_Openness_Integration_and_Economic_Growth"><img alt="Research paper thumbnail of On Openness, Integration and Economic Growth" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">On Openness, Integration and Economic Growth</div><div class="wp-workCard_item"><span>Bangladesh Institute of Islamic Thought (BIIT). Dhaka</span><span>, 2003</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023393"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023393"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023393; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023393]").text(description); $(".js-view-count[data-work-id=40023393]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023393; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023393']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023393]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023393,"title":"On Openness, Integration and Economic Growth","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2003,"errors":{}},"publication_name":"Bangladesh Institute of Islamic Thought (BIIT). Dhaka"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023393/On_Openness_Integration_and_Economic_Growth","translated_internal_url":"","created_at":"2019-08-06T11:44:07.503-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"On_Openness_Integration_and_Economic_Growth","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth"},{"id":99915,"name":"Integration","url":"https://www.academia.edu/Documents/in/Integration"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023393-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023387"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023387/Banking_and_Finance_in_Bangladesh_A_Collection_of_Essays"><img alt="Research paper thumbnail of Banking and Finance in Bangladesh: A Collection of Essays" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Banking and Finance in Bangladesh: A Collection of Essays</div><div class="wp-workCard_item"><span>Academic Publishers, Dhaka, Bangladesh</span><span>, 1995</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023387"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023387"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023387; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023387]").text(description); $(".js-view-count[data-work-id=40023387]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023387; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023387']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023387]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023387,"title":"Banking and Finance in Bangladesh: A Collection of Essays","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":1995,"errors":{}},"publication_name":"Academic Publishers, Dhaka, Bangladesh"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023387/Banking_and_Finance_in_Bangladesh_A_Collection_of_Essays","translated_internal_url":"","created_at":"2019-08-06T11:43:13.365-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Banking_and_Finance_in_Bangladesh_A_Collection_of_Essays","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":18895,"name":"Bangladesh","url":"https://www.academia.edu/Documents/in/Bangladesh"},{"id":1239972,"name":"Banking and Finance","url":"https://www.academia.edu/Documents/in/Banking_and_Finance-5"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023387-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023382"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023382/Islamic_Finance"><img alt="Research paper thumbnail of Islamic Finance" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islamic Finance</div><div class="wp-workCard_item"><span>Pearson Publishing Company</span><span>, 2013</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023382"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023382"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023382; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023382]").text(description); $(".js-view-count[data-work-id=40023382]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023382; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023382']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023382]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023382,"title":"Islamic Finance","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2013,"errors":{}},"publication_name":"Pearson Publishing Company"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023382/Islamic_Finance","translated_internal_url":"","created_at":"2019-08-06T11:42:06.495-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"Islamic_Finance","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":33711,"name":"Islamic Banking And Finance","url":"https://www.academia.edu/Documents/in/Islamic_Banking_And_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023382-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40023161"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40023161/A_Textbook_on_Islamic_Banking"><img alt="Research paper thumbnail of A Textbook on Islamic Banking" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">A Textbook on Islamic Banking</div><div class="wp-workCard_item"><span>Islamic Economics Research Bureau (IERB), Dhaka, Bangladesh</span><span>, 2008</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40023161"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40023161"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40023161; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40023161]").text(description); $(".js-view-count[data-work-id=40023161]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40023161; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40023161']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40023161]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40023161,"title":"A Textbook on Islamic Banking","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2008,"errors":{}},"publication_name":"Islamic Economics Research Bureau (IERB), Dhaka, Bangladesh"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40023161/A_Textbook_on_Islamic_Banking","translated_internal_url":"","created_at":"2019-08-06T11:41:14.888-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"book","co_author_tags":[],"downloadable_attachments":[],"slug":"A_Textbook_on_Islamic_Banking","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40023161-figures'); } }); </script> </div><div class="profile--tab_content_container js-tab-pane tab-pane" data-section-id="9673455" id="bookchapters"><div class="js-work-strip profile--work_container" data-work-id="40289423"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289423/The_Role_of_Black_Market_Exchange_Rate_Expectations_in_the_Demand_for_Money_in_SAARC_Countries_An_Empirical_Investigation"><img alt="Research paper thumbnail of The Role of Black-Market Exchange-Rate Expectations in the Demand for Money in SAARC Countries: An Empirical Investigation" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The Role of Black-Market Exchange-Rate Expectations in the Demand for Money in SAARC Countries: An Empirical Investigation</div><div class="wp-workCard_item"><span>International Finance in the New World Order, edited by Peter H. Gray and Sandra Richard, Pergamon Press </span><span>, 1995</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289423"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289423"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289423; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289423]").text(description); $(".js-view-count[data-work-id=40289423]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289423; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289423']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289423]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289423,"title":"The Role of Black-Market Exchange-Rate Expectations in the Demand for Money in SAARC Countries: An Empirical Investigation","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":1995,"errors":{}},"publication_name":"International Finance in the New World Order, edited by Peter H. Gray and Sandra Richard, Pergamon Press "},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289423/The_Role_of_Black_Market_Exchange_Rate_Expectations_in_the_Demand_for_Money_in_SAARC_Countries_An_Empirical_Investigation","translated_internal_url":"","created_at":"2019-09-08T15:01:28.116-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"The_Role_of_Black_Market_Exchange_Rate_Expectations_in_the_Demand_for_Money_in_SAARC_Countries_An_Empirical_Investigation","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":217488,"name":"Black Market Economies","url":"https://www.academia.edu/Documents/in/Black_Market_Economies"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289423-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289411"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289411/The_Review_of_Financial_Sector_Reform_in_Bangladesh"><img alt="Research paper thumbnail of The Review of Financial Sector Reform in Bangladesh" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The Review of Financial Sector Reform in Bangladesh</div><div class="wp-workCard_item"><span>Growth or Stagnation? A Review of Bangladesh's Development 1996 edited by Rehman Sobhan, 1997 (Center for Policy Dialogue and University Press Limited: Dhaka, Bangladesh)</span><span>, 1997</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289411"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289411"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289411; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289411]").text(description); $(".js-view-count[data-work-id=40289411]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289411; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289411']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289411]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289411,"title":"The Review of Financial Sector Reform in Bangladesh","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":1997,"errors":{}},"publication_name":"Growth or Stagnation? A Review of Bangladesh's Development 1996 edited by Rehman Sobhan, 1997 (Center for Policy Dialogue and University Press Limited: Dhaka, Bangladesh)"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289411/The_Review_of_Financial_Sector_Reform_in_Bangladesh","translated_internal_url":"","created_at":"2019-09-08T14:58:44.210-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"The_Review_of_Financial_Sector_Reform_in_Bangladesh","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":18895,"name":"Bangladesh","url":"https://www.academia.edu/Documents/in/Bangladesh"},{"id":1870301,"name":"Financial sector reforms","url":"https://www.academia.edu/Documents/in/Financial_sector_reforms"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289411-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289401"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289401/Financial_Repression_in_Economic_Development_A_Test_of_the_McKinnon_Hypothesis_for_Bangladesh"><img alt="Research paper thumbnail of Financial Repression in Economic Development: A Test of the McKinnon Hypothesis for Bangladesh" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Financial Repression in Economic Development: A Test of the McKinnon Hypothesis for Bangladesh</div><div class="wp-workCard_item"><span>The Economy of Bangladesh: From Stagnation to a Threshold of Breakthrough edited by Abu N. M. Wahid and Charles Weis, 1996 (Praeger, Westport, Connecticut)</span><span>, 1996</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289401"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289401"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289401; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289401]").text(description); $(".js-view-count[data-work-id=40289401]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289401; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289401']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289401]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289401,"title":"Financial Repression in Economic Development: A Test of the McKinnon Hypothesis for Bangladesh","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":1996,"errors":{}},"publication_name":"The Economy of Bangladesh: From Stagnation to a Threshold of Breakthrough edited by Abu N. M. Wahid and Charles Weis, 1996 (Praeger, Westport, Connecticut)"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289401/Financial_Repression_in_Economic_Development_A_Test_of_the_McKinnon_Hypothesis_for_Bangladesh","translated_internal_url":"","created_at":"2019-09-08T14:57:28.689-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Financial_Repression_in_Economic_Development_A_Test_of_the_McKinnon_Hypothesis_for_Bangladesh","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":11395,"name":"Economic Development","url":"https://www.academia.edu/Documents/in/Economic_Development"},{"id":1379739,"name":"Financial Repression","url":"https://www.academia.edu/Documents/in/Financial_Repression"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289401-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289392"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289392/Micorfinancial_Services_and_Poverty_Alleviation_in_Bangladesh_A_Comparative_Analysis_of_Secular_and_Islamic_NGOs"><img alt="Research paper thumbnail of Micorfinancial Services and Poverty Alleviation in Bangladesh: A Comparative Analysis of Secular and Islamic NGOs" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Micorfinancial Services and Poverty Alleviation in Bangladesh: A Comparative Analysis of Secular and Islamic NGOs</div><div class="wp-workCard_item"><span>Islamic Economic Institutions and the Elimination of Poverty, Edited by Munawar Iqbal, and pulished by Islamic Foundation, Leicester, U.K</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289392"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289392"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289392; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289392]").text(description); $(".js-view-count[data-work-id=40289392]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289392; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289392']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289392]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289392,"title":"Micorfinancial Services and Poverty Alleviation in Bangladesh: A Comparative Analysis of Secular and Islamic NGOs","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Islamic Economic Institutions and the Elimination of Poverty, Edited by Munawar Iqbal, and pulished by Islamic Foundation, Leicester, U.K"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289392/Micorfinancial_Services_and_Poverty_Alleviation_in_Bangladesh_A_Comparative_Analysis_of_Secular_and_Islamic_NGOs","translated_internal_url":"","created_at":"2019-09-08T14:55:58.139-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Micorfinancial_Services_and_Poverty_Alleviation_in_Bangladesh_A_Comparative_Analysis_of_Secular_and_Islamic_NGOs","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":5756,"name":"Microfinance","url":"https://www.academia.edu/Documents/in/Microfinance"},{"id":181131,"name":"Poverty Alleviation","url":"https://www.academia.edu/Documents/in/Poverty_Alleviation"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289392-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289386"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289386/Bank_Restructuring_and_Privatization_Experience_in_Bangladesh"><img alt="Research paper thumbnail of Bank Restructuring and Privatization Experience in Bangladesh" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Bank Restructuring and Privatization Experience in Bangladesh</div><div class="wp-workCard_item"><span>Socio-Economic and Political Development of Bangladesh, in Ali, A., Kuddus, R. and Andaleeb S.S. (editors) Studies on Socio-Economic and Political Development of Bangladesh. The University Press Limited (UPL): Dhaka, Bangladesh</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289386"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289386"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289386; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289386]").text(description); $(".js-view-count[data-work-id=40289386]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289386; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289386']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289386]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289386,"title":"Bank Restructuring and Privatization Experience in Bangladesh","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Socio-Economic and Political Development of Bangladesh, in Ali, A., Kuddus, R. and Andaleeb S.S. (editors) Studies on Socio-Economic and Political Development of Bangladesh. The University Press Limited (UPL): Dhaka, Bangladesh"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289386/Bank_Restructuring_and_Privatization_Experience_in_Bangladesh","translated_internal_url":"","created_at":"2019-09-08T14:54:52.579-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Bank_Restructuring_and_Privatization_Experience_in_Bangladesh","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":70643,"name":"Privatization","url":"https://www.academia.edu/Documents/in/Privatization"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289386-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289375"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289375/Trade_With_India_and_Trade_Policies_of_Bangladesh"><img alt="Research paper thumbnail of Trade With India and Trade Policies of Bangladesh" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Trade With India and Trade Policies of Bangladesh</div><div class="wp-workCard_item"><span>Towards Greater Sub-Regional Economic Cooperation: Limitations, Obstacles and Benefits, Edited by Forrest E. Cookson and A.K.M. Shamsul Alam,. University Press Limited (UPL), Dhaka, Bangladesh</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289375"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289375"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289375; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289375]").text(description); $(".js-view-count[data-work-id=40289375]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289375; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289375']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289375]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289375,"title":"Trade With India and Trade Policies of Bangladesh","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Towards Greater Sub-Regional Economic Cooperation: Limitations, Obstacles and Benefits, Edited by Forrest E. Cookson and A.K.M. Shamsul Alam,. University Press Limited (UPL), Dhaka, Bangladesh"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289375/Trade_With_India_and_Trade_Policies_of_Bangladesh","translated_internal_url":"","created_at":"2019-09-08T14:52:50.728-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Trade_With_India_and_Trade_Policies_of_Bangladesh","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":18895,"name":"Bangladesh","url":"https://www.academia.edu/Documents/in/Bangladesh"},{"id":43838,"name":"India","url":"https://www.academia.edu/Documents/in/India"},{"id":82413,"name":"Trade Policy","url":"https://www.academia.edu/Documents/in/Trade_Policy"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289375-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289368"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289368/Myron_Scholes_1944_An_Applied_Financial_Economist_and_a_Laureate_of_1997"><img alt="Research paper thumbnail of Myron Scholes (1944 - ): An Applied Financial Economist and a Laureate of 1997" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Myron Scholes (1944 - ): An Applied Financial Economist and a Laureate of 1997</div><div class="wp-workCard_item"><span>Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289368"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289368"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289368; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289368]").text(description); $(".js-view-count[data-work-id=40289368]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289368; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289368']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289368]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289368,"title":"Myron Scholes (1944 - ): An Applied Financial Economist and a Laureate of 1997","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289368/Myron_Scholes_1944_An_Applied_Financial_Economist_and_a_Laureate_of_1997","translated_internal_url":"","created_at":"2019-09-08T14:51:38.811-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Myron_Scholes_1944_An_Applied_Financial_Economist_and_a_Laureate_of_1997","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":3372975,"name":"Applied Financial Economics","url":"https://www.academia.edu/Documents/in/Applied_Financial_Economics"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289368-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289361"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289361/Robert_Merton_1944_A_Solver_of_Option_Pricing_Model_and_a_Laureate_of_1997"><img alt="Research paper thumbnail of Robert Merton (1944- ): A Solver of Option Pricing Model and a Laureate of 1997" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Robert Merton (1944- ): A Solver of Option Pricing Model and a Laureate of 1997</div><div class="wp-workCard_item"><span>Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289361"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289361"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289361; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289361]").text(description); $(".js-view-count[data-work-id=40289361]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289361; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289361']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289361]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289361,"title":"Robert Merton (1944- ): A Solver of Option Pricing Model and a Laureate of 1997","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289361/Robert_Merton_1944_A_Solver_of_Option_Pricing_Model_and_a_Laureate_of_1997","translated_internal_url":"","created_at":"2019-09-08T14:50:33.853-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Robert_Merton_1944_A_Solver_of_Option_Pricing_Model_and_a_Laureate_of_1997","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":69845,"name":"Capital Asset Pricing Model","url":"https://www.academia.edu/Documents/in/Capital_Asset_Pricing_Model"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289361-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289355"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289355/Merton_Miller_1923_2000_A_Guru_of_Corporate_Finance_and_a_Laureate_of_1990"><img alt="Research paper thumbnail of Merton Miller (1923-2000): A Guru of Corporate Finance and a Laureate of 1990" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Merton Miller (1923-2000): A Guru of Corporate Finance and a Laureate of 1990</div><div class="wp-workCard_item"><span>Published in Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut</span><span>, 2002</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289355"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289355"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289355; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289355]").text(description); $(".js-view-count[data-work-id=40289355]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289355; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289355']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289355]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289355,"title":"Merton Miller (1923-2000): A Guru of Corporate Finance and a Laureate of 1990","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2002,"errors":{}},"publication_name":"Published in Frontiers of Economics: Nobel Laureates of the Twentieth Century, Greenwood Press, Westport, Connecticut"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289355/Merton_Miller_1923_2000_A_Guru_of_Corporate_Finance_and_a_Laureate_of_1990","translated_internal_url":"","created_at":"2019-09-08T14:49:03.613-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Merton_Miller_1923_2000_A_Guru_of_Corporate_Finance_and_a_Laureate_of_1990","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":7292,"name":"Corporate Finance","url":"https://www.academia.edu/Documents/in/Corporate_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289355-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289339"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289339/Determinants_of_Islamic_banking_profitability"><img alt="Research paper thumbnail of Determinants of Islamic banking profitability" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Determinants of Islamic banking profitability</div><div class="wp-workCard_item"><span>Islamic Perspectives on Wealth Creation, Edinburgh: Edinburgh University Press</span><span>, 2005</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289339"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289339"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289339; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289339]").text(description); $(".js-view-count[data-work-id=40289339]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289339; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289339']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289339]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289339,"title":"Determinants of Islamic banking profitability","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2005,"errors":{}},"publication_name":"Islamic Perspectives on Wealth Creation, Edinburgh: Edinburgh University Press"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289339/Determinants_of_Islamic_banking_profitability","translated_internal_url":"","created_at":"2019-09-08T14:46:11.898-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Determinants_of_Islamic_banking_profitability","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":121035,"name":"Profitability","url":"https://www.academia.edu/Documents/in/Profitability"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289339-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289331"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289331/Return_Volatility_Predictability_and_Dynamic_Relationships_in_the_Stock_Markets_of_the_Member_Countries_of_the_Organization_of_Islamic_Conference"><img alt="Research paper thumbnail of Return Volatility, Predictability and Dynamic Relationships in the Stock Markets of the Member Countries of the Organization of Islamic Conference" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Return Volatility, Predictability and Dynamic Relationships in the Stock Markets of the Member Countries of the Organization of Islamic Conference</div><div class="wp-workCard_item"><span>Islamic Perspectives on Sustainable Development, Published by Palgrave-MacMillan</span><span>, 2005</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289331"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289331"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289331; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289331]").text(description); $(".js-view-count[data-work-id=40289331]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289331; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289331']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289331]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289331,"title":"Return Volatility, Predictability and Dynamic Relationships in the Stock Markets of the Member Countries of the Organization of Islamic Conference","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2005,"errors":{}},"publication_name":"Islamic Perspectives on Sustainable Development, Published by Palgrave-MacMillan"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289331/Return_Volatility_Predictability_and_Dynamic_Relationships_in_the_Stock_Markets_of_the_Member_Countries_of_the_Organization_of_Islamic_Conference","translated_internal_url":"","created_at":"2019-09-08T14:44:27.097-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Return_Volatility_Predictability_and_Dynamic_Relationships_in_the_Stock_Markets_of_the_Member_Countries_of_the_Organization_of_Islamic_Conference","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":64197,"name":"OIC","url":"https://www.academia.edu/Documents/in/OIC"},{"id":297000,"name":"Volatility of Stock Returns","url":"https://www.academia.edu/Documents/in/Volatility_of_Stock_Returns"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289331-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289322"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289322/Financial_Development_and_Economic_Growth_in_Some_Muslim_Countries"><img alt="Research paper thumbnail of Financial Development and Economic Growth in Some Muslim Countries" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Financial Development and Economic Growth in Some Muslim Countries</div><div class="wp-workCard_item"><span>Islamic Perspectives on Sustainable Development, Published by Palgrave-MacMillan</span><span>, 2005</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289322"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289322"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289322; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289322]").text(description); $(".js-view-count[data-work-id=40289322]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289322; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289322']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289322]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289322,"title":"Financial Development and Economic Growth in Some Muslim Countries","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2005,"errors":{}},"publication_name":"Islamic Perspectives on Sustainable Development, Published by Palgrave-MacMillan"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289322/Financial_Development_and_Economic_Growth_in_Some_Muslim_Countries","translated_internal_url":"","created_at":"2019-09-08T14:42:44.176-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Financial_Development_and_Economic_Growth_in_Some_Muslim_Countries","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth"},{"id":9945,"name":"Financial development","url":"https://www.academia.edu/Documents/in/Financial_development"},{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289322-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289314"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289314/Islamic_mutual_funds"><img alt="Research paper thumbnail of Islamic mutual funds" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islamic mutual funds</div><div class="wp-workCard_item"><span>Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K</span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289314"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289314"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289314; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289314]").text(description); $(".js-view-count[data-work-id=40289314]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289314; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289314']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289314]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289314,"title":"Islamic mutual funds","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289314/Islamic_mutual_funds","translated_internal_url":"","created_at":"2019-09-08T14:41:19.688-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Islamic_mutual_funds","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":25685,"name":"Islamic Mutual Funds","url":"https://www.academia.edu/Documents/in/Islamic_Mutual_Funds"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289314-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289306"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289306/Islam_and_speculation_in_the_stock_exchange"><img alt="Research paper thumbnail of Islam and speculation in the stock exchange" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Islam and speculation in the stock exchange</div><div class="wp-workCard_item"><span>Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K</span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289306"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289306"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289306; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289306]").text(description); $(".js-view-count[data-work-id=40289306]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289306; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289306']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289306]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289306,"title":"Islam and speculation in the stock exchange","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289306/Islam_and_speculation_in_the_stock_exchange","translated_internal_url":"","created_at":"2019-09-08T14:40:17.285-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Islam_and_speculation_in_the_stock_exchange","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":54328,"name":"Speculation","url":"https://www.academia.edu/Documents/in/Speculation"},{"id":1664852,"name":"Islamic Stock Exchanges","url":"https://www.academia.edu/Documents/in/Islamic_Stock_Exchanges"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289306-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289298"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289298/Operational_efficiency_and_performance_of_Islamic_banks"><img alt="Research paper thumbnail of Operational efficiency and performance of Islamic banks" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Operational efficiency and performance of Islamic banks</div><div class="wp-workCard_item"><span>Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K</span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289298"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289298"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289298; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289298]").text(description); $(".js-view-count[data-work-id=40289298]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289298; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289298']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289298]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289298,"title":"Operational efficiency and performance of Islamic banks","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Handbook of Islamic Banking, Published by Edward Elgar Publishing Company, U.K"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289298/Operational_efficiency_and_performance_of_Islamic_banks","translated_internal_url":"","created_at":"2019-09-08T14:38:49.250-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Operational_efficiency_and_performance_of_Islamic_banks","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":228741,"name":"Islamic banks","url":"https://www.academia.edu/Documents/in/Islamic_banks"},{"id":563670,"name":"Operational Efficiency","url":"https://www.academia.edu/Documents/in/Operational_Efficiency"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289298-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289294"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289294/Application_of_Linkage_Banking_Models_to_Mobilize_Rural_Savings_for_Financial_Intermediation_in_Bangladesh"><img alt="Research paper thumbnail of Application of Linkage Banking Models to Mobilize Rural Savings for Financial Intermediation in Bangladesh" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Application of Linkage Banking Models to Mobilize Rural Savings for Financial Intermediation in Bangladesh</div><div class="wp-workCard_item"><span>Development Issues of Bangladesh II, edited by M. Faizul Islam and Syed Saad Andaleeb, published by the University Press Limited, Dhaka, Bangladesh </span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289294"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289294"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289294; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289294]").text(description); $(".js-view-count[data-work-id=40289294]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289294; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289294']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289294]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289294,"title":"Application of Linkage Banking Models to Mobilize Rural Savings for Financial Intermediation in Bangladesh","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Development Issues of Bangladesh II, edited by M. Faizul Islam and Syed Saad Andaleeb, published by the University Press Limited, Dhaka, Bangladesh "},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289294/Application_of_Linkage_Banking_Models_to_Mobilize_Rural_Savings_for_Financial_Intermediation_in_Bangladesh","translated_internal_url":"","created_at":"2019-09-08T14:37:35.318-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Application_of_Linkage_Banking_Models_to_Mobilize_Rural_Savings_for_Financial_Intermediation_in_Bangladesh","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":511465,"name":"Financial intermediation","url":"https://www.academia.edu/Documents/in/Financial_intermediation"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289294-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289284"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289284/Basel_II_and_Corporate_Governance_of_Islamic_Banks"><img alt="Research paper thumbnail of Basel II and Corporate Governance of Islamic Banks" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Basel II and Corporate Governance of Islamic Banks</div><div class="wp-workCard_item"><span>Integrating Islamic Finance into the Mainstream: Regulation, Standardization and Transparency, Islamic Finance Project, Islamic Legal Studies Program, Harvard Law School</span><span>, 2007</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289284"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289284"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289284; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289284]").text(description); $(".js-view-count[data-work-id=40289284]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289284; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289284']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289284]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289284,"title":"Basel II and Corporate Governance of Islamic Banks","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2007,"errors":{}},"publication_name":"Integrating Islamic Finance into the Mainstream: Regulation, Standardization and Transparency, Islamic Finance Project, Islamic Legal Studies Program, Harvard Law School"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289284/Basel_II_and_Corporate_Governance_of_Islamic_Banks","translated_internal_url":"","created_at":"2019-09-08T14:36:04.827-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Basel_II_and_Corporate_Governance_of_Islamic_Banks","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":4167,"name":"Corporate Governance","url":"https://www.academia.edu/Documents/in/Corporate_Governance"},{"id":228741,"name":"Islamic banks","url":"https://www.academia.edu/Documents/in/Islamic_banks"},{"id":230439,"name":"Basel II","url":"https://www.academia.edu/Documents/in/Basel_II"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289284-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289268"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289268/Russian_Financial_Crisis_US_Financial_Stock_Returns_and_the_IMF"><img alt="Research paper thumbnail of Russian Financial Crisis, US Financial Stock Returns and the IMF" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Russian Financial Crisis, US Financial Stock Returns and the IMF</div><div class="wp-workCard_item"><span>Financial Contagion: The Viral Threat to Wealth of Nations, Robert Kolb Edited, John Wiley and Company</span><span>, 2010</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289268"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289268"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289268; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289268]").text(description); $(".js-view-count[data-work-id=40289268]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289268; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289268']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289268]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289268,"title":"Russian Financial Crisis, US Financial Stock Returns and the IMF","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2010,"errors":{}},"publication_name":"Financial Contagion: The Viral Threat to Wealth of Nations, Robert Kolb Edited, John Wiley and Company"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289268/Russian_Financial_Crisis_US_Financial_Stock_Returns_and_the_IMF","translated_internal_url":"","created_at":"2019-09-08T14:33:52.697-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Russian_Financial_Crisis_US_Financial_Stock_Returns_and_the_IMF","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":16890,"name":"IMF","url":"https://www.academia.edu/Documents/in/IMF"},{"id":37022,"name":"Financial Crises","url":"https://www.academia.edu/Documents/in/Financial_Crises"},{"id":974197,"name":"Stock Returns","url":"https://www.academia.edu/Documents/in/Stock_Returns"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289268-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289163"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289163/The_Emergence_and_Development_of_Islamic_Banking"><img alt="Research paper thumbnail of The Emergence and Development of Islamic Banking" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The Emergence and Development of Islamic Banking</div><div class="wp-workCard_item"><span>Islamic Finance: Instruments and Markets, Bloomsbury Press, London, UK</span><span>, 2010</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289163"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289163"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289163; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289163]").text(description); $(".js-view-count[data-work-id=40289163]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289163; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289163']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289163]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289163,"title":"The Emergence and Development of Islamic Banking","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2010,"errors":{}},"publication_name":"Islamic Finance: Instruments and Markets, Bloomsbury Press, London, UK"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289163/The_Emergence_and_Development_of_Islamic_Banking","translated_internal_url":"","created_at":"2019-09-08T14:12:35.009-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"The_Emergence_and_Development_of_Islamic_Banking","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21923,"name":"Islamic Banking","url":"https://www.academia.edu/Documents/in/Islamic_Banking"},{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289163-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="40289160"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/40289160/Capital_Adequacy_Requirements_for_Islamic_Financial_Institutions"><img alt="Research paper thumbnail of Capital Adequacy Requirements for Islamic Financial Institutions" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Capital Adequacy Requirements for Islamic Financial Institutions</div><div class="wp-workCard_item"><span>Islamic Finance: Instruments and Markets, Bloomsbury Press, London, UK</span><span>, 2011</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="40289160"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="40289160"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 40289160; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=40289160]").text(description); $(".js-view-count[data-work-id=40289160]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 40289160; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='40289160']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=40289160]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":40289160,"title":"Capital Adequacy Requirements for Islamic Financial Institutions","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2011,"errors":{}},"publication_name":"Islamic Finance: Instruments and Markets, Bloomsbury Press, London, UK"},"translated_abstract":null,"internal_url":"https://www.academia.edu/40289160/Capital_Adequacy_Requirements_for_Islamic_Financial_Institutions","translated_internal_url":"","created_at":"2019-09-08T14:11:37.170-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":169217,"coauthors_can_edit":true,"document_type":"other","co_author_tags":[],"downloadable_attachments":[],"slug":"Capital_Adequacy_Requirements_for_Islamic_Financial_Institutions","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":169217,"first_name":"Kabir","middle_initials":null,"last_name":"Hassan","page_name":"KabirHassan","domain_name":"uno","created_at":"2010-04-13T03:54:31.281-07:00","display_name":"Kabir Hassan","url":"https://uno.academia.edu/KabirHassan"},"attachments":[],"research_interests":[{"id":21928,"name":"Islamic Finance","url":"https://www.academia.edu/Documents/in/Islamic_Finance"},{"id":966655,"name":"Capital Adequacy","url":"https://www.academia.edu/Documents/in/Capital_Adequacy"},{"id":2988251,"name":"Islamic financial institutions","url":"https://www.academia.edu/Documents/in/Islamic_financial_institutions"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-40289160-figures'); } }); </script> </div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/google_contacts-0dfb882d836b94dbcb4a2d123d6933fc9533eda5be911641f20b4eb428429600.js"], function() { // from javascript_helper.rb $('.js-google-connect-button').click(function(e) { e.preventDefault(); GoogleContacts.authorize_and_show_contacts(); Aedu.Dismissibles.recordClickthrough("WowProfileImportContactsPrompt"); }); $('.js-update-biography-button').click(function(e) { e.preventDefault(); Aedu.Dismissibles.recordClickthrough("UpdateUserBiographyPrompt"); $.ajax({ url: $r.api_v0_profiles_update_about_path({ subdomain_param: 'api', about: "", }), type: 'PUT', success: function(response) { location.reload(); } }); }); $('.js-work-creator-button').click(function (e) { e.preventDefault(); window.location = $r.upload_funnel_document_path({ source: encodeURIComponent(""), }); }); $('.js-video-upload-button').click(function (e) { e.preventDefault(); window.location = $r.upload_funnel_video_path({ source: encodeURIComponent(""), }); }); $('.js-do-this-later-button').click(function() { $(this).closest('.js-profile-nag-panel').remove(); Aedu.Dismissibles.recordDismissal("WowProfileImportContactsPrompt"); }); $('.js-update-biography-do-this-later-button').click(function(){ $(this).closest('.js-profile-nag-panel').remove(); Aedu.Dismissibles.recordDismissal("UpdateUserBiographyPrompt"); }); $('.wow-profile-mentions-upsell--close').click(function(){ $('.wow-profile-mentions-upsell--panel').hide(); Aedu.Dismissibles.recordDismissal("WowProfileMentionsUpsell"); }); $('.wow-profile-mentions-upsell--button').click(function(){ Aedu.Dismissibles.recordClickthrough("WowProfileMentionsUpsell"); }); new WowProfile.SocialRedesignUserWorks({ initialWorksOffset: 20, allWorksOffset: 20, maxSections: 3 }) }); </script> </div></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile_edit-5ea339ee107c863779f560dd7275595239fed73f1a13d279d2b599a28c0ecd33.js","https://a.academia-assets.com/assets/add_coauthor-22174b608f9cb871d03443cafa7feac496fb50d7df2d66a53f5ee3c04ba67f53.js","https://a.academia-assets.com/assets/tab-dcac0130902f0cc2d8cb403714dd47454f11fc6fb0e99ae6a0827b06613abc20.js","https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js"], function() { // from javascript_helper.rb window.ae = window.ae || {}; window.ae.WowProfile = window.ae.WowProfile || {}; if(Aedu.User.current && Aedu.User.current.id === $viewedUser.id) { window.ae.WowProfile.current_user_edit = {}; new WowProfileEdit.EditUploadView({ el: '.js-edit-upload-button-wrapper', model: window.$current_user, }); new AddCoauthor.AddCoauthorsController(); } var userInfoView = new WowProfile.SocialRedesignUserInfo({ recaptcha_key: "6LdxlRMTAAAAADnu_zyLhLg0YF9uACwz78shpjJB" }); WowProfile.router = new WowProfile.Router({ userInfoView: userInfoView }); Backbone.history.start({ pushState: true, root: "/" + $viewedUser.page_name }); new WowProfile.UserWorksNav() }); </script> </div> <div class="bootstrap login"><div class="modal fade login-modal" id="login-modal"><div class="login-modal-dialog modal-dialog"><div class="modal-content"><div class="modal-header"><button class="close close" data-dismiss="modal" type="button"><span aria-hidden="true">×</span><span class="sr-only">Close</span></button><h4 class="modal-title text-center"><strong>Log In</strong></h4></div><div class="modal-body"><div class="row"><div class="col-xs-10 col-xs-offset-1"><button class="btn btn-fb btn-lg btn-block btn-v-center-content" id="login-facebook-oauth-button"><svg style="float: left; width: 19px; line-height: 1em; margin-right: .3em;" aria-hidden="true" focusable="false" data-prefix="fab" data-icon="facebook-square" class="svg-inline--fa fa-facebook-square fa-w-14" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512"><path fill="currentColor" d="M400 32H48A48 48 0 0 0 0 80v352a48 48 0 0 0 48 48h137.25V327.69h-63V256h63v-54.64c0-62.15 37-96.48 93.67-96.48 27.14 0 55.52 4.84 55.52 4.84v61h-31.27c-30.81 0-40.42 19.12-40.42 38.73V256h68.78l-11 71.69h-57.78V480H400a48 48 0 0 0 48-48V80a48 48 0 0 0-48-48z"></path></svg><small><strong>Log in</strong> with <strong>Facebook</strong></small></button><br /><button class="btn btn-google btn-lg btn-block btn-v-center-content" id="login-google-oauth-button"><svg style="float: left; width: 22px; line-height: 1em; margin-right: .3em;" aria-hidden="true" focusable="false" data-prefix="fab" data-icon="google-plus" class="svg-inline--fa fa-google-plus fa-w-16" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M256,8C119.1,8,8,119.1,8,256S119.1,504,256,504,504,392.9,504,256,392.9,8,256,8ZM185.3,380a124,124,0,0,1,0-248c31.3,0,60.1,11,83,32.3l-33.6,32.6c-13.2-12.9-31.3-19.1-49.4-19.1-42.9,0-77.2,35.5-77.2,78.1S142.3,334,185.3,334c32.6,0,64.9-19.1,70.1-53.3H185.3V238.1H302.2a109.2,109.2,0,0,1,1.9,20.7c0,70.8-47.5,121.2-118.8,121.2ZM415.5,273.8v35.5H380V273.8H344.5V238.3H380V202.8h35.5v35.5h35.2v35.5Z"></path></svg><small><strong>Log in</strong> with <strong>Google</strong></small></button><br /><style type="text/css">.sign-in-with-apple-button { width: 100%; height: 52px; border-radius: 3px; border: 1px solid black; cursor: pointer; } .sign-in-with-apple-button > div { margin: 0 auto; / This centers the Apple-rendered button horizontally }</style><script src="https://appleid.cdn-apple.com/appleauth/static/jsapi/appleid/1/en_US/appleid.auth.js" type="text/javascript"></script><div class="sign-in-with-apple-button" data-border="false" data-color="white" id="appleid-signin"><span   ="Sign Up with Apple" class="u-fs11"></span></div><script>AppleID.auth.init({ clientId: 'edu.academia.applesignon', scope: 'name email', redirectURI: 'https://www.academia.edu/sessions', state: "8f02c9d5af1a0a596eb87e4ef66c63795a993f75393718937797f7c76f21d7c9", });</script><script>// Hacky way of checking if on fast loswp if (window.loswp == null) { (function() { const Google = window?.Aedu?.Auth?.OauthButton?.Login?.Google; const Facebook = window?.Aedu?.Auth?.OauthButton?.Login?.Facebook; if (Google) { new Google({ el: '#login-google-oauth-button', rememberMeCheckboxId: 'remember_me', track: null }); } if (Facebook) { new Facebook({ el: '#login-facebook-oauth-button', rememberMeCheckboxId: 'remember_me', track: null }); } })(); }</script></div></div></div><div class="modal-body"><div class="row"><div class="col-xs-10 col-xs-offset-1"><div class="hr-heading login-hr-heading"><span class="hr-heading-text">or</span></div></div></div></div><div class="modal-body"><div class="row"><div class="col-xs-10 col-xs-offset-1"><form class="js-login-form" action="https://www.academia.edu/sessions" accept-charset="UTF-8" method="post"><input type="hidden" name="authenticity_token" value="pD-hwPFPw1DZkdUHU4yZ5Mrycsh8NtlwooMAJHO47bOF12H9WPV58ApEKb43N0eJugyHdYy6q48A0RoFzynRCw" autocomplete="off" /><div class="form-group"><label class="control-label" for="login-modal-email-input" style="font-size: 14px;">Email</label><input class="form-control" id="login-modal-email-input" name="login" type="email" /></div><div class="form-group"><label class="control-label" for="login-modal-password-input" style="font-size: 14px;">Password</label><input class="form-control" id="login-modal-password-input" name="password" type="password" /></div><input type="hidden" name="post_login_redirect_url" id="post_login_redirect_url" value="https://uno.academia.edu/KabirHassan" autocomplete="off" /><div class="checkbox"><label><input type="checkbox" name="remember_me" id="remember_me" value="1" checked="checked" /><small style="font-size: 12px; margin-top: 2px; display: inline-block;">Remember me on this computer</small></label></div><br><input type="submit" name="commit" value="Log In" class="btn btn-primary btn-block btn-lg js-login-submit" data-disable-with="Log In" /></br></form><script>typeof window?.Aedu?.recaptchaManagedForm === 'function' && window.Aedu.recaptchaManagedForm( document.querySelector('.js-login-form'), document.querySelector('.js-login-submit') );</script><small style="font-size: 12px;"><br />or <a data-target="#login-modal-reset-password-container" data-toggle="collapse" href="javascript:void(0)">reset password</a></small><div class="collapse" id="login-modal-reset-password-container"><br /><div class="well margin-0x"><form class="js-password-reset-form" action="https://www.academia.edu/reset_password" accept-charset="UTF-8" method="post"><input type="hidden" name="authenticity_token" value="ECXB-6gtAn4RCBzqufF5ZzpnR4R7FQLojLmAMq1gqAoxzQHGAZe43sLd4FPdSqcKSpmyOYuZcBcu65oTEfGUsg" autocomplete="off" /><p>Enter the email address you signed up with and we'll email you a reset link.</p><div class="form-group"><input class="form-control" name="email" type="email" /></div><script src="https://recaptcha.net/recaptcha/api.js" async defer></script> <script> var invisibleRecaptchaSubmit = function () { var closestForm = function (ele) { var curEle = ele.parentNode; while (curEle.nodeName !== 'FORM' && curEle.nodeName !== 'BODY'){ curEle = curEle.parentNode; } return curEle.nodeName === 'FORM' ? curEle : null }; var eles = document.getElementsByClassName('g-recaptcha'); if (eles.length > 0) { var form = closestForm(eles[0]); if (form) { form.submit(); } } }; </script> <input type="submit" data-sitekey="6Lf3KHUUAAAAACggoMpmGJdQDtiyrjVlvGJ6BbAj" data-callback="invisibleRecaptchaSubmit" class="g-recaptcha btn btn-primary btn-block" value="Email me a link" value=""/> </form></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/collapse-45805421cf446ca5adf7aaa1935b08a3a8d1d9a6cc5d91a62a2a3a00b20b3e6a.js"], function() { // from javascript_helper.rb $("#login-modal-reset-password-container").on("shown.bs.collapse", function() { $(this).find("input[type=email]").focus(); }); }); </script> </div></div></div><div class="modal-footer"><div class="text-center"><small style="font-size: 12px;">Need an account? <a rel="nofollow" href="https://www.academia.edu/signup">Click here to sign up</a></small></div></div></div></div></div></div><script>// If we are on subdomain or non-bootstrapped page, redirect to login page instead of showing modal (function(){ if (typeof $ === 'undefined') return; var host = window.location.hostname; if ((host === $domain || host === "www."+$domain) && (typeof $().modal === 'function')) { $("#nav_log_in").click(function(e) { // Don't follow the link and open the modal e.preventDefault(); $("#login-modal").on('shown.bs.modal', function() { $(this).find("#login-modal-email-input").focus() }).modal('show'); }); } })()</script> <div class="bootstrap" id="footer"><div class="footer-content clearfix text-center padding-top-7x" style="width:100%;"><ul class="footer-links-secondary footer-links-wide list-inline margin-bottom-1x"><li><a href="https://www.academia.edu/about">About</a></li><li><a href="https://www.academia.edu/press">Press</a></li><li><a href="https://www.academia.edu/documents">Papers</a></li><li><a href="https://www.academia.edu/topics">Topics</a></li><li><a href="https://www.academia.edu/journals">Academia.edu Journals</a></li><li><a rel="nofollow" href="https://www.academia.edu/hiring"><svg style="width: 13px; height: 13px;" aria-hidden="true" focusable="false" data-prefix="fas" data-icon="briefcase" class="svg-inline--fa fa-briefcase fa-w-16" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M320 336c0 8.84-7.16 16-16 16h-96c-8.84 0-16-7.16-16-16v-48H0v144c0 25.6 22.4 48 48 48h416c25.6 0 48-22.4 48-48V288H320v48zm144-208h-80V80c0-25.6-22.4-48-48-48H176c-25.6 0-48 22.4-48 48v48H48c-25.6 0-48 22.4-48 48v80h512v-80c0-25.6-22.4-48-48-48zm-144 0H192V96h128v32z"></path></svg> <strong>We're Hiring!</strong></a></li><li><a rel="nofollow" href="https://support.academia.edu/hc/en-us"><svg style="width: 12px; height: 12px;" aria-hidden="true" focusable="false" data-prefix="fas" data-icon="question-circle" class="svg-inline--fa fa-question-circle fa-w-16" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M504 256c0 136.997-111.043 248-248 248S8 392.997 8 256C8 119.083 119.043 8 256 8s248 111.083 248 248zM262.655 90c-54.497 0-89.255 22.957-116.549 63.758-3.536 5.286-2.353 12.415 2.715 16.258l34.699 26.31c5.205 3.947 12.621 3.008 16.665-2.122 17.864-22.658 30.113-35.797 57.303-35.797 20.429 0 45.698 13.148 45.698 32.958 0 14.976-12.363 22.667-32.534 33.976C247.128 238.528 216 254.941 216 296v4c0 6.627 5.373 12 12 12h56c6.627 0 12-5.373 12-12v-1.333c0-28.462 83.186-29.647 83.186-106.667 0-58.002-60.165-102-116.531-102zM256 338c-25.365 0-46 20.635-46 46 0 25.364 20.635 46 46 46s46-20.636 46-46c0-25.365-20.635-46-46-46z"></path></svg> <strong>Help Center</strong></a></li></ul><ul class="footer-links-tertiary list-inline margin-bottom-1x"><li class="small">Find new research papers in:</li><li class="small"><a href="https://www.academia.edu/Documents/in/Physics">Physics</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Chemistry">Chemistry</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Biology">Biology</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Health_Sciences">Health Sciences</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Ecology">Ecology</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Earth_Sciences">Earth Sciences</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Cognitive_Science">Cognitive Science</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Mathematics">Mathematics</a></li><li class="small"><a href="https://www.academia.edu/Documents/in/Computer_Science">Computer Science</a></li></ul></div></div><div class="DesignSystem" id="credit" style="width:100%;"><ul class="u-pl0x footer-links-legal list-inline"><li><a rel="nofollow" href="https://www.academia.edu/terms">Terms</a></li><li><a rel="nofollow" href="https://www.academia.edu/privacy">Privacy</a></li><li><a rel="nofollow" href="https://www.academia.edu/copyright">Copyright</a></li><li>Academia ©2025</li></ul></div><script> //<![CDATA[ window.detect_gmtoffset = true; window.Academia && window.Academia.set_gmtoffset && Academia.set_gmtoffset('/gmtoffset'); //]]> </script> <div id='overlay_background'></div> <div id='bootstrap-modal-container' class='bootstrap'></div> <div id='ds-modal-container' class='bootstrap DesignSystem'></div> <div id='full-screen-modal'></div> </div> </body> </html>