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Sukuk, bond market development and target capital structure : selected Southeast Asian Countries

This study aims to identify the existence of target capital structure and explore firm specific and country specific determinants of target capital structure for firms in the selected Southeast Asian countries (Malaysia, Thailand and Singapore). We detect a remarkable effect of bond market developme...

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Main Authors: Haron, Razali, Ibrahim, Khairunisah, Abdul Razak, Dzuljastri
Format: Conference or Workshop Item
Language:English
Published: 2012
Subjects:
HG Finance
Online Access:http://irep.iium.edu.my/25896/1/%28_C-10%29_Razali_-_IIAFC_2012_Sukuk_Bond_Market_Development_and_Target_Capital_structure.pdf
http://irep.iium.edu.my/25896/
http://ari.uitm.edu.my/conferences/2012/726-international-islamic-accounting-and-finance-conference-2012.html
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spelling my.iium.irep.258962013-03-21T08:50:07Z http://irep.iium.edu.my/25896/ Sukuk, bond market development and target capital structure : selected Southeast Asian Countries Haron, Razali Ibrahim, Khairunisah Abdul Razak, Dzuljastri HG Finance This study aims to identify the existence of target capital structure and explore firm specific and country specific determinants of target capital structure for firms in the selected Southeast Asian countries (Malaysia, Thailand and Singapore). We detect a remarkable effect of bond market development on capital structure of firms in Malaysia comparative to Thailand and Singapore. This study argues that this is due to the development of sukuk, or Islamic bonds in Malaysia. The distinctive effect of bond market development with sukuk element on Malaysian firms shows that institutional environment and governance in which the firm operates do influence the capital structure decision. This study contributes to the existing literature by highlighting the impact of sukuk on bond market development as one of the significant determinants of target capital structure via the dynamic model. Keywords: Bond Market Development, Sukuk, Malaysia, Southeast Asian, Partial Adjustment Model 2012 Conference or Workshop Item REM application/pdf en http://irep.iium.edu.my/25896/1/%28_C-10%29_Razali_-_IIAFC_2012_Sukuk_Bond_Market_Development_and_Target_Capital_structure.pdf Haron, Razali and Ibrahim, Khairunisah and Abdul Razak, Dzuljastri (2012) Sukuk, bond market development and target capital structure : selected Southeast Asian Countries. In: International Islamic Accounting and Finance Conference, 20-21 November 2012, Kualal Lumpur. (Unpublished) http://ari.uitm.edu.my/conferences/2012/726-international-islamic-accounting-and-finance-conference-2012.html
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Haron, Razali
Ibrahim, Khairunisah
Abdul Razak, Dzuljastri
Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
description This study aims to identify the existence of target capital structure and explore firm specific and country specific determinants of target capital structure for firms in the selected Southeast Asian countries (Malaysia, Thailand and Singapore). We detect a remarkable effect of bond market development on capital structure of firms in Malaysia comparative to Thailand and Singapore. This study argues that this is due to the development of sukuk, or Islamic bonds in Malaysia. The distinctive effect of bond market development with sukuk element on Malaysian firms shows that institutional environment and governance in which the firm operates do influence the capital structure decision. This study contributes to the existing literature by highlighting the impact of sukuk on bond market development as one of the significant determinants of target capital structure via the dynamic model. Keywords: Bond Market Development, Sukuk, Malaysia, Southeast Asian, Partial Adjustment Model
format Conference or Workshop Item
author Haron, Razali
Ibrahim, Khairunisah
Abdul Razak, Dzuljastri
author_facet Haron, Razali
Ibrahim, Khairunisah
Abdul Razak, Dzuljastri
author_sort Haron, Razali
title Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
title_short Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
title_full Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
title_fullStr Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
title_full_unstemmed Sukuk, bond market development and target capital structure : selected Southeast Asian Countries
title_sort sukuk, bond market development and target capital structure : selected southeast asian countries
publishDate 2012
url http://irep.iium.edu.my/25896/1/%28_C-10%29_Razali_-_IIAFC_2012_Sukuk_Bond_Market_Development_and_Target_Capital_structure.pdf
http://irep.iium.edu.my/25896/
http://ari.uitm.edu.my/conferences/2012/726-international-islamic-accounting-and-finance-conference-2012.html
_version_ 1643609028897538048
score 13.211869

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