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Title: Capital Structures In Islamic Capital Markets: Evidences From Bursa Malaysia
Authors: Omer Ahmed Salmeen Bin Thabet
Keywords: Capital market--Religious aspects--Islam
Capital market--Malaysia
Issue Date: 2015
Publisher: Universiti Sains Islam Malaysia
Abstract: ABSTRACT The aims of this study are to determine the level of debt of Shariah-compliant firms, the determinants of their capital structure, and the influence of managerial ownership on the relationship between capital structure and its determinants. The study uses cross-sectional and time-series data covering 263 Shariah-compliant firms listed on Bursa Malaysia over the period 2006-201 1. Pooled ordinary least square, fixed effects and random effects methods are used to test the hypotheses of this study. The results show that, first, 79% of Shariah-complaint firms have debt level less than 33%. Second, a significant relationship exists between tangibility, profitability, liquidity, dividends, stock return, risks, zakah, and tax with leverage of Shariah-compliant firms. Finally, in the presence of managerial ownership as moderating variable, only profitability, liquidity, dividends, zakah, tax, and NDTS are found to be a significant with compliant firms' capital structure.
Description: Thesis (PhD)-- Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia, 2015
Appears in Collections:Ph.D

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