Islamic capital market and debt financing of Shariah-compliant firms in Indonesia
Islamic Capital Market (ICM) is expanding rapidly worldwide and Indonesia is following very closely. Examining 290 shariah-compliant Indonesian firms, we found that certain firm and industry level determinants do influence the debt financing without ignoring the shariah principles governing the dec...
| Main Authors: | , |
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| Format: | Article |
| Language: | English English |
| Published: |
IIUM Press, International Islamic University Malaysia
2016
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/54444/ http://irep.iium.edu.my/54444/ http://irep.iium.edu.my/54444/1/04%20Razali%20Haron.pdf http://irep.iium.edu.my/54444/7/54444_Islamic%20capital%20market_scopus.pdf |
| Summary: | Islamic Capital Market (ICM) is expanding rapidly worldwide and Indonesia is following very closely. Examining 290 shariah-compliant Indonesian firms, we found that certain firm and industry level determinants do influence the debt financing without ignoring the
shariah principles governing the decisions. The ICM accelerating growth is very much reflected in the findings, thus contributing significantly in the literature and to the policymakers as well. Being
shariah-compliant does not hinder them from engaging in higher debt with Islamic debt instruments employed as alternatives. |
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