Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood
This study examines the financial performance of firms subsequent to the introduction of sukuk in their capital mix. A group of sukuk offerings by Malaysian companies was identified primarily from the Securities Commission, while financial information was obtained directly from companies financial r...
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| Format: | Research Reports |
| Language: | en |
| Published: |
2012
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| Online Access: | https://ir.uitm.edu.my/id/eprint/52412/1/52412.pdf https://ir.uitm.edu.my/id/eprint/52412/ |
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| _version_ | 1833069681456447488 |
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| author | Mohamed, Zaimi Mat Yusof, Mohd Husnin Wan Mahmood, Wan Mansor |
| author_facet | Mohamed, Zaimi Mat Yusof, Mohd Husnin Wan Mahmood, Wan Mansor |
| author_sort | Mohamed, Zaimi |
| building | Tun Abdul Razak Library |
| collection | Institutional Repository |
| content_provider | Universiti Teknologi Mara |
| content_source | UiTM Institutional Repository |
| continent | Asia |
| country | Malaysia |
| description | This study examines the financial performance of firms subsequent to the introduction of sukuk in their capital mix. A group of sukuk offerings by Malaysian companies was identified primarily from the Securities Commission, while financial information was obtained directly from companies financial reports. In addition to the liquidity and leverage ratios, the presence of the new source of funds in the company’s capital structure was defined as i- ratio. Another variable known as i-factor was also introduced to represent the intensity of newly issued sukuk as a percentage of company’s total debt prior to the offerings.
Based on the data for the period from January 2001 to December 2006, the results show that firm’s liquidity and leverage position do influence company’s financial performance subsequent to the issuance. In addition, the newly introduced variables, the i-ratio and i- factor, also indicate their relationships towards firm’s value. It seems that Malaysian companies are showing continuous support in sukuk as a medium to purify their source of funds. Continuous investigations on this type of instrument will further strengthen the presence of Islamic finance and banking industry in the country while providing valuable information to potential market players. |
| format | Research Reports |
| id | my.uitm.ir-52412 |
| institution | Universiti Teknologi Mara |
| language | en |
| publishDate | 2012 |
| record_format | eprints |
| spelling | my.uitm.ir-524122021-10-20T06:35:48Z https://ir.uitm.edu.my/id/eprint/52412/ Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood Mohamed, Zaimi Mat Yusof, Mohd Husnin Wan Mahmood, Wan Mansor Organizational effectiveness. Performance measurement Public relations. Industrial publicity Social responsibility of business. Social entrepreneurship General works. Financial institutions Financial management. Business finance. Corporation finance Balance sheets. Financial statements. Including corporation reports. Financial reporting. Financial disclosure This study examines the financial performance of firms subsequent to the introduction of sukuk in their capital mix. A group of sukuk offerings by Malaysian companies was identified primarily from the Securities Commission, while financial information was obtained directly from companies financial reports. In addition to the liquidity and leverage ratios, the presence of the new source of funds in the company’s capital structure was defined as i- ratio. Another variable known as i-factor was also introduced to represent the intensity of newly issued sukuk as a percentage of company’s total debt prior to the offerings. Based on the data for the period from January 2001 to December 2006, the results show that firm’s liquidity and leverage position do influence company’s financial performance subsequent to the issuance. In addition, the newly introduced variables, the i-ratio and i- factor, also indicate their relationships towards firm’s value. It seems that Malaysian companies are showing continuous support in sukuk as a medium to purify their source of funds. Continuous investigations on this type of instrument will further strengthen the presence of Islamic finance and banking industry in the country while providing valuable information to potential market players. 2012-08 Research Reports NonPeerReviewed text en https://ir.uitm.edu.my/id/eprint/52412/1/52412.pdf Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood. (2012) [Research Reports] (Submitted) |
| spellingShingle | Organizational effectiveness. Performance measurement Public relations. Industrial publicity Social responsibility of business. Social entrepreneurship General works. Financial institutions Financial management. Business finance. Corporation finance Balance sheets. Financial statements. Including corporation reports. Financial reporting. Financial disclosure Mohamed, Zaimi Mat Yusof, Mohd Husnin Wan Mahmood, Wan Mansor Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title | Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title_full | Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title_fullStr | Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title_full_unstemmed | Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title_short | Sukuk: The post-issuance effect on firm’s value / Zaimi Mohamed, Mohd Husnin Mat Yusof and Wan Mansor Wan Mahmood |
| title_sort | sukuk: the post-issuance effect on firm’s value / zaimi mohamed, mohd husnin mat yusof and wan mansor wan mahmood |
| topic | Organizational effectiveness. Performance measurement Public relations. Industrial publicity Social responsibility of business. Social entrepreneurship General works. Financial institutions Financial management. Business finance. Corporation finance Balance sheets. Financial statements. Including corporation reports. Financial reporting. Financial disclosure |
| url | https://ir.uitm.edu.my/id/eprint/52412/1/52412.pdf https://ir.uitm.edu.my/id/eprint/52412/ |
| url_provider | http://ir.uitm.edu.my/ |