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Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads

The main objective of this study is twofold. First, is to investigate the significant mean difference between conventional bonds and sukuk� yield spreads. Second, is to investigate the relationship between yield spreads and corporate governance mechanisms. The data covers from 2000 to 2014 for 256 a...

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Main Authors: Mohd Saad N., Haniff M.N., Ali N.
Other Authors: 56070007300
Format: Article
Published: Elsevier B.V. 2023
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spelling my.uniten.dspace-252902023-05-29T16:07:55Z Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads Mohd Saad N. Haniff M.N. Ali N. 56070007300 36491433500 35224598000 The main objective of this study is twofold. First, is to investigate the significant mean difference between conventional bonds and sukuk� yield spreads. Second, is to investigate the relationship between yield spreads and corporate governance mechanisms. The data covers from 2000 to 2014 for 256 and 405 tranches of long-term and medium-term issuances of conventional bonds and sukuk respectively. Unbalanced panel data are applied. The findings show that (1) there are significant mean different between yield spreads of conventional bonds and sukuk, and (2) the institutional ownerships and BOD characteristics, role duality and size significantly reduce yield spreads in long-term conventional bonds and sukuk. The institutional investors should have more shareholdings in the issuer firms, those who are issue long-term conventional bonds and medium-term sukuk since the default risk is low. BOD also need to fully compliant to Malaysian Code on Corporate Governance (MCCG) for best practices in the firm. � 2019 The Authors Final 2023-05-29T08:07:54Z 2023-05-29T08:07:54Z 2020 Article 10.1016/j.pacfin.2019.02.001 2-s2.0-85061725701 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85061725701&doi=10.1016%2fj.pacfin.2019.02.001&partnerID=40&md5=a691b6ee6f30a75e8c2a9701b576b09d https://irepository.uniten.edu.my/handle/123456789/25290 62 101116 All Open Access, Hybrid Gold Elsevier B.V. Scopus
institution Universiti Tenaga Nasional
building UNITEN Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tenaga Nasional
content_source UNITEN Institutional Repository
url_provider http://dspace.uniten.edu.my/
description The main objective of this study is twofold. First, is to investigate the significant mean difference between conventional bonds and sukuk� yield spreads. Second, is to investigate the relationship between yield spreads and corporate governance mechanisms. The data covers from 2000 to 2014 for 256 and 405 tranches of long-term and medium-term issuances of conventional bonds and sukuk respectively. Unbalanced panel data are applied. The findings show that (1) there are significant mean different between yield spreads of conventional bonds and sukuk, and (2) the institutional ownerships and BOD characteristics, role duality and size significantly reduce yield spreads in long-term conventional bonds and sukuk. The institutional investors should have more shareholdings in the issuer firms, those who are issue long-term conventional bonds and medium-term sukuk since the default risk is low. BOD also need to fully compliant to Malaysian Code on Corporate Governance (MCCG) for best practices in the firm. � 2019 The Authors
author2 56070007300
author_facet 56070007300
Mohd Saad N.
Haniff M.N.
Ali N.
format Article
author Mohd Saad N.
Haniff M.N.
Ali N.
spellingShingle Mohd Saad N.
Haniff M.N.
Ali N.
Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
author_sort Mohd Saad N.
title Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
title_short Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
title_full Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
title_fullStr Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
title_full_unstemmed Corporate governance mechanisms with conventional bonds and Sukuk� yield spreads
title_sort corporate governance mechanisms with conventional bonds and sukuk� yield spreads
publisher Elsevier B.V.
publishDate 2023
_version_ 1806426632938848256
score 13.222552

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