Capital Structure and Shari'ah Compliance of Non-Financial Firms

ISBN-13: 9783110713503 / Angielski / Twarda / 2021 / 402 str.

Ramazan Yildirim

Spis treści

Table of Contents

Chapter 1: Introduction

Chapter 1.1 Context and Background

Chapter 1.2 Motivation and Objectives

Chapter 1.3 Organization of the Book

Chapter 2: Capital Structure Theories and its Determinants

Chapter 2.1 Introduction

Chapter 2.2 Definition of Capital Structure

Chapter 2.3 Development of Capital Structure Theories

Chapter 2.4 The Trade-Off Theory

Chapter 2.5 The Pecking Order Theory

Chapter 2.6 Capital Structure Determinants

Chapter 2.7 Review of Earlier Capital Structure Studies on Shari'ah Compliant Companies

Chapter 2.8 Conclusion

Chapter 3: Shari'ah Compliant Equities and Capital Structure

Chapter 3.1 Historical Background

Chapter 3.2 Shari'ah Screening Methodology

Chapter 3.3 Critical Comments on Shari'ah Screening Methodology

Chapter 3.4 Proposed Solution for Shari'ah Screening Methodology

Chapter 3.5 Proposed Expected Financing Hierarchy

Chapter 3.4 Conclusion

Chapter 4: Establishing a framework for comparative analysis

Chapter 4.1 Data Selection Procedure/Data Sources and Classification of Datasets

Chapter 4.2 Estimator and Post Estimation Tests

Chapter 4.3 Formulation of Variables

Chapter 4.4 Model Specification and Testing Model

Chapter 4.5 Conclusion

Chapter 5: Cross-Country and Cross-Industry Determinants

Chapter 5.1 Descriptive Summary and Correlation Matrix Analysis

Chapter 5.2 Empirical Results and Analysis

Chapter 5.3 Conclusion

Chapter 6: Testing of Capital Structure Theories

Chapter 6.1 Pecking Order Model

Chapter 6.2 Partial Adjustment Model (Speed of Adjustment)

Chapter 6.3 Conclusion

Chapter 7 Conclusion

Chapter 7.1 Overview and Key Findings

Chapter 7.2 Implications of the Study

Chapter 7.3 Contribution of the Study

Chapter 7.4 Limitations of the Study

Chapter 7.5 Suggestions for Future Research

O autorze

Dr. Ramazan Yildirim is the Managing Director of Upsite Consulting S.P.C. located in the Kingdom of Bahrain. He has gained entrepreneurial and consulting experiences especially in corporate governance areas, such as Business Process Management (BPM) and Enterprise Risk Management (ERM); followed by strong academic experience in complex research environments. He provides his professional services on a global level (USA, EU and in GCC) to several multinational conglomerates among various industries such as Siemens, SAP, Software AG, SABIC and many more. He received his Ph.D. in Islamic Finance from the International Centre for Education in Islamic Finance (INCEIF), Kuala Lumpur, Malaysia. He studied Business Administration specializing in Computer Sciences at Pforzheim Business School in Germany. He received his MBA in International Management and Marketing from the same university in cooperation with Nanyang Technological University in Singapore.
In addition to this, Dr. Ramazan received the Best Paper Award from Pacific-Basin Finance Journal (PBFJ) at the Malaysian Finance Association Conference 2017 for his paper titled "Determinants of Capital Structure: Evidence from Shari'ah Compliant and Non-Compliant Firms". Furthermore, he presented his innovative idea "Shari'ah Screening Methodology: New Shari'ah Compliant Approach" at the 1^st IF Innofest 2016 (Islamic Finance Innovation Festival/Competition) sponsored and organized by the Central Bank of Malaysia (Bank Negara) and INCEIF respectively, where he received the 1^st Prize for his Idea Pitch (Exhibitor).
Dr. Ramazan has authored and reviewed in international journals such as in Pacific-Basin Finance Journal (PBFJ), Journal of Islamic Economics, Banking and Finance (JIEBF), Thunderbird International Business Review (TIBR, Wiley), ISRA International Journal of Islamic Finance (IJIF), International Journal of Islamic and Middle Eastern Finance and Management (IMEFM), International Journal of Islamic Economics and Finance Studies (IJISEF) as well as in book chapters such as in Emerald International Finance Review (IFR), etc. His research interests are in the areas of (but not limited to) Corporate Finance, Corporate Governance, Capital Markets and Portfolio Management, with applied Econometric methods in both Islamic and Conventional Finance.