Prof. Dr. Obiyathulla Ismath Bacha
Qualification:Doctor of Business Administration (specialization in Finance) Boston University, USA. (1993)
Fields/Area of Specialization:Finance and Accounting
Prof. Dr Obiyathulla Ismath Bacha achieved his Bachelor of Social Science from the University Science Malaysia, a Master of Business Administration, a Masters in Economics and his Doctor of Business Administration in Finance from Boston University. He is currently a professor of Finance at INCEIF. Previously he has held several key positions at the International Islamic University of Malaysia. He was also an assistant professor in finance at Boston University, he taught at both MBA and undergraduate levels. He is also an active Shariah advisor to institutions such as Five Pillars and Sabana REIT. Prof. Dr. Obiyathulla is also the Vice President of the Malaysian Economic Association and a member of the Malaysian Finance Association.

Content Distribution

ABSTRACTS VIEWS

5287

VIEWS & DOWNLOAD

786

Top Country : Malaysia

Showing results 1 to 10 of 84
  • too_small_succeed_versus_too_big_fail_marjan_obiya_mansur.pdf.jpg
  • Journal Article


  • Authors: Naseri, Marjan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2019)

  • Even though large banks could imply large risks and heightened vulnerability for a country's macroeconomy, the presence of many small banks with similar behavior such as Islamic banks could also cause systemic risks. This article makes an initial attempt to investigate the impact of bank size on banking performance. Our study spans 12 emerging countries with dual banking systems and applies two-step dynamic system GMM estimator. The results show that size really does matter in the banking industry, and its impact on performance tends to be non-linear with a trade-off between profitability and efficiency. Comparing conventional with Islamic banks, we find that bank size has almost the ...

  • Issues_in_Islamic_equities_mansur_et_al.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Mustaffa Kamil, Nazrol Kamil; Bacha, Obiyathulla Ismath (2018)

  • This article reviews the current literature on Islamic equities. Our survey indicates that the bulk of articles is quantitative or empirical in nature, with a notable dearth of theoretical works. Among the common research themes explored by these articles are comparative performances of Islamic equities visa-vis their conventional counterparts, comparisons of Islamic portfolios with SRI funds, and empirically articulating portfolio diversification benefits associated with Islamic equities. In addition, numerous articles discuss idiosyncrasies of Shari'ah compliant stocks and portfolios under subthemes such as volatility, risk factors, and performance attributes. This survey also inclu...

  • Determinants_of_capital_structure_ramazan_mansur_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Yildirim, Ramazan; Mohammed Masih, Abul Mansur; Bacha, Obiyathulla Ismath (2018)

  • Many Muslim individual and institutional investors seek to invest only in stocks that are compliant with the Shari'ah (i.e. Islamic law). Among others, Dow Jones addressed this demand and has developed their proprietary screening methodologies to identify Shari'ah compliant firms (SC). One key factor that distinguishes SC firms from their non-compliant peers (SNC) is that the former is not allowed to cross the leverage threshold of 33%. Due to the restrictions imposed on them, it is expected that SC firms exhibit different capital structure compared to the SNC firms. The purpose of this initial comparative study is to analyze the most reliable debt determinants identified in the liter...

  • empirical_evidence_risk_shifting_bonds_debt-based_sukuk_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Hamzah, Siti Raihana; Bacha, Obiyathulla Ismath; Mirakhor, Abbas; Abdul Kader Malim, Nurhafiza (2018)

  • The purpose of this paper is to examine the extent of risk shifting behavior in bonds and sukuk. The examination is significant, as economists and scholars identify risk shifting as the primary cause of the global financial crisis. Yet, the dangers of this debt-financing feature are largely ignored - one needs to only witness the record growth of global debt even after the global financial crisis. To identify the signs of risk shifting existence in the corporations, this paper compares each corporation's operating risk before and after issuing debt. Operating risk or risk of a firm's activities is measured using the volatility of the operating earnings or coefficient variation of earn...

  • item.jpg
  • PhD


  • Authors: Vaqar, Momin Ebaad (2018)

  • Infrastructure is the backbone of modem economies; an adequate and efficient public infrastructure is essential for nations to achieve their economic growth objectives. Although the need and role of infrastructure are well recognized, little attention has been paid to the risks and pitfalls of the current infrastructure financing structures. The enormous infrastructure deficit and the increasing instances of debt restructurings, infrastructure project failures and expensive government bailouts, present enough reason for a deeper thought and action towards making infrastructure financing more robust. Through the thesis, the researcher sheds light on the problems related to such forms o...

  • does_low_leverage_minimize_impact_financial_shocks_Obiya et al.pdf.jpg
  • Journal Article


  • Authors: el Alaoui, AbdelKader Ouatik; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur; Asutay, Mehmet (2018)

  • This study embodies a preliminary endeavour at analysing the impact of leverage on portfolio behaviour, with specific reference to return and volatility, in the European stock markets, using the debt ratio as one of the important benchmarks for Islamic stock screening. Given the focus of Islamic stock screening on the debt ratio, we use data from 320 firms for eight European countries which were classified according to their level of debt and size. For this, the portfolio optimisation based Mean-Variance Efficient Frontier (MVEF), the Sharpe Ratio and the Capital Market Line (CML) were employed. Our findings tend to demonstrate that, under shocks, high leverage worsens the portfolio r...

  • item.jpg
  • PhD


  • Authors: Abdullah, Ahmad Monir (2018)

  • Financially distressed companies always bring about enormous financial and economic losses to many stakeholders, such as management, stockholders, employees and customers together with a substantial social and economic cost to the country. Therefore, a distress prediction model that can predict the event and identify the determinants in advance would serve to reduce such losses by providing a pre-warning signal to stakeholders. Preventive actions can then be taken by stakeholders if they can obtain early warning signal of probable failure that will lead to the efficient allocation of available resources to reduce losses. For these reasons, identifying the financial distress determinan...

  • PhD_leverage_decision_firms_comparative_analysis_Shariah_compliant_Shariah_non_compliant_firms_Ramazan_Yildirim.pdf.jpg
  • PhD


  • Authors: Yildirim, Ramazan (2017)

  • Capital structure which is the mixture of debt and equity capital of a company is very important since it is related to the ability of the company to fulfil the needs of its stakeholders. The main competing theories, which attempts to understand how financing decisions are made, that have emerged and developed over the last decades are the Trade-Off Theory and the Pecking Order Theory. Trade-Off Theory predicts that firms should balance the tax benefits of debt against the cost of debt, therefore firms should have an optimal capital structure. In contrast, Pecking Order Theory does not imply that firms capital structure decision is driven by the notion of optimal ... Available in ...

  • PhD_An_analysis_of_issues_surrounding_stock_index_futures_contract_Hashim.pdf.jpg
  • PhD


  • Authors: Jusoh, Hashim (2017)

  • The derivatives markets in the Asian region have shown significant growth and development since their inception. Similarly, derivatives market in Malaysia and Bursa Malaysia Derivatives have experienced remarkable changes and developments. This study focuses mainly on the stock index futures contract (FKLI) and its relationship with the underlying spot index (FBM KLCI). The FKLI is chosen instead of other permissible futures due to availability of the data and its relevance in the context of fund managers' asset allocation strategy... Available in physical copy and downloadable format (Call Number: t HG 6043 H348)

  • PhD_A_game_theoretic_investigation_of_compliance_to_Islamic_rules_of_behaviour_Hazik.pdf.jpg
  • PhD


  • Authors: Mohamed, Hazik (2017)

  • The breakdown of trust and cooperation as well as the failure of institutions to govern effectively can be attributed as the critical causes of the global financial meltdown. This research will extend the behavioural investigation into testing the level of adherence towards these rules of behaviour in the members of society - specifically separated into two groups, Muslims and non-Muslims. This research will analyze the comparative behaviours of Muslims and non-Muslims using selected games (from the body of published work on behavioural and experimental games). The experimental games will be carried out on test subjects in Singapore as well as in Malaysia from diverse backgrounds ... ...

Prof. Dr. Obiyathulla Ismath Bacha
author picture
Qualification: Doctor of Business Administration (specialization in Finance) Boston University, USA. (1993)
Fields/Area of Specialization: Finance and Accounting
Prof. Dr Obiyathulla Ismath Bacha achieved his Bachelor of Social Science from the University Science Malaysia, a Master of Business Administration, a Masters in Economics and his Doctor of Business Administration in Finance from Boston University. He is currently a professor of Finance at INCEIF. Previously he has held several key positions at the International Islamic University of Malaysia. He was also an assistant professor in finance at Boston University, he taught at both MBA and undergraduate levels. He is also an active Shariah advisor to institutions such as Five Pillars and Sabana REIT. Prof. Dr. Obiyathulla is also the Vice President of the Malaysian Economic Association and a member of the Malaysian Finance Association.
Showing results 1 to 10 of 84
  • too_small_succeed_versus_too_big_fail_marjan_obiya_mansur.pdf.jpg
  • Journal Article


  • Authors: Naseri, Marjan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2019)

  • Even though large banks could imply large risks and heightened vulnerability for a country's macroeconomy, the presence of many small banks with similar behavior such as Islamic banks could also cause systemic risks. This article makes an initial attempt to investigate the impact of bank size on banking performance. Our study spans 12 emerging countries with dual banking systems and applies two-step dynamic system GMM estimator. The results show that size really does matter in the banking industry, and its impact on performance tends to be non-linear with a trade-off between profitability and efficiency. Comparing conventional with Islamic banks, we find that bank size has almost the ...

  • Issues_in_Islamic_equities_mansur_et_al.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Mustaffa Kamil, Nazrol Kamil; Bacha, Obiyathulla Ismath (2018)

  • This article reviews the current literature on Islamic equities. Our survey indicates that the bulk of articles is quantitative or empirical in nature, with a notable dearth of theoretical works. Among the common research themes explored by these articles are comparative performances of Islamic equities visa-vis their conventional counterparts, comparisons of Islamic portfolios with SRI funds, and empirically articulating portfolio diversification benefits associated with Islamic equities. In addition, numerous articles discuss idiosyncrasies of Shari'ah compliant stocks and portfolios under subthemes such as volatility, risk factors, and performance attributes. This survey also inclu...

  • Determinants_of_capital_structure_ramazan_mansur_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Yildirim, Ramazan; Mohammed Masih, Abul Mansur; Bacha, Obiyathulla Ismath (2018)

  • Many Muslim individual and institutional investors seek to invest only in stocks that are compliant with the Shari'ah (i.e. Islamic law). Among others, Dow Jones addressed this demand and has developed their proprietary screening methodologies to identify Shari'ah compliant firms (SC). One key factor that distinguishes SC firms from their non-compliant peers (SNC) is that the former is not allowed to cross the leverage threshold of 33%. Due to the restrictions imposed on them, it is expected that SC firms exhibit different capital structure compared to the SNC firms. The purpose of this initial comparative study is to analyze the most reliable debt determinants identified in the liter...

  • empirical_evidence_risk_shifting_bonds_debt-based_sukuk_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Hamzah, Siti Raihana; Bacha, Obiyathulla Ismath; Mirakhor, Abbas; Abdul Kader Malim, Nurhafiza (2018)

  • The purpose of this paper is to examine the extent of risk shifting behavior in bonds and sukuk. The examination is significant, as economists and scholars identify risk shifting as the primary cause of the global financial crisis. Yet, the dangers of this debt-financing feature are largely ignored - one needs to only witness the record growth of global debt even after the global financial crisis. To identify the signs of risk shifting existence in the corporations, this paper compares each corporation's operating risk before and after issuing debt. Operating risk or risk of a firm's activities is measured using the volatility of the operating earnings or coefficient variation of earn...

  • item.jpg
  • PhD


  • Authors: Vaqar, Momin Ebaad (2018)

  • Infrastructure is the backbone of modem economies; an adequate and efficient public infrastructure is essential for nations to achieve their economic growth objectives. Although the need and role of infrastructure are well recognized, little attention has been paid to the risks and pitfalls of the current infrastructure financing structures. The enormous infrastructure deficit and the increasing instances of debt restructurings, infrastructure project failures and expensive government bailouts, present enough reason for a deeper thought and action towards making infrastructure financing more robust. Through the thesis, the researcher sheds light on the problems related to such forms o...

  • does_low_leverage_minimize_impact_financial_shocks_Obiya et al.pdf.jpg
  • Journal Article


  • Authors: el Alaoui, AbdelKader Ouatik; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur; Asutay, Mehmet (2018)

  • This study embodies a preliminary endeavour at analysing the impact of leverage on portfolio behaviour, with specific reference to return and volatility, in the European stock markets, using the debt ratio as one of the important benchmarks for Islamic stock screening. Given the focus of Islamic stock screening on the debt ratio, we use data from 320 firms for eight European countries which were classified according to their level of debt and size. For this, the portfolio optimisation based Mean-Variance Efficient Frontier (MVEF), the Sharpe Ratio and the Capital Market Line (CML) were employed. Our findings tend to demonstrate that, under shocks, high leverage worsens the portfolio r...

  • item.jpg
  • PhD


  • Authors: Abdullah, Ahmad Monir (2018)

  • Financially distressed companies always bring about enormous financial and economic losses to many stakeholders, such as management, stockholders, employees and customers together with a substantial social and economic cost to the country. Therefore, a distress prediction model that can predict the event and identify the determinants in advance would serve to reduce such losses by providing a pre-warning signal to stakeholders. Preventive actions can then be taken by stakeholders if they can obtain early warning signal of probable failure that will lead to the efficient allocation of available resources to reduce losses. For these reasons, identifying the financial distress determinan...

  • PhD_leverage_decision_firms_comparative_analysis_Shariah_compliant_Shariah_non_compliant_firms_Ramazan_Yildirim.pdf.jpg
  • PhD


  • Authors: Yildirim, Ramazan (2017)

  • Capital structure which is the mixture of debt and equity capital of a company is very important since it is related to the ability of the company to fulfil the needs of its stakeholders. The main competing theories, which attempts to understand how financing decisions are made, that have emerged and developed over the last decades are the Trade-Off Theory and the Pecking Order Theory. Trade-Off Theory predicts that firms should balance the tax benefits of debt against the cost of debt, therefore firms should have an optimal capital structure. In contrast, Pecking Order Theory does not imply that firms capital structure decision is driven by the notion of optimal ... Available in ...

  • PhD_An_analysis_of_issues_surrounding_stock_index_futures_contract_Hashim.pdf.jpg
  • PhD


  • Authors: Jusoh, Hashim (2017)

  • The derivatives markets in the Asian region have shown significant growth and development since their inception. Similarly, derivatives market in Malaysia and Bursa Malaysia Derivatives have experienced remarkable changes and developments. This study focuses mainly on the stock index futures contract (FKLI) and its relationship with the underlying spot index (FBM KLCI). The FKLI is chosen instead of other permissible futures due to availability of the data and its relevance in the context of fund managers' asset allocation strategy... Available in physical copy and downloadable format (Call Number: t HG 6043 H348)

  • PhD_A_game_theoretic_investigation_of_compliance_to_Islamic_rules_of_behaviour_Hazik.pdf.jpg
  • PhD


  • Authors: Mohamed, Hazik (2017)

  • The breakdown of trust and cooperation as well as the failure of institutions to govern effectively can be attributed as the critical causes of the global financial meltdown. This research will extend the behavioural investigation into testing the level of adherence towards these rules of behaviour in the members of society - specifically separated into two groups, Muslims and non-Muslims. This research will analyze the comparative behaviours of Muslims and non-Muslims using selected games (from the body of published work on behavioural and experimental games). The experimental games will be carried out on test subjects in Singapore as well as in Malaysia from diverse backgrounds ... ...