Dr. Mohamed Eskandar Shah Mohd Rasid
Qualification:Ph.D.in Finance, University of Nottingham, U.K (2012)
Fields/Area of Specialization:Asset Pricing, Portfolio Theory, Capital Structure and International Finance
Dr Mohamed Eskandar Shah Mohd Rasid holds a PhD in Finance from University of Nottingham, United Kingdom. Prior to joining INCEIF, he was an Assistant Professor at Department of Finance, Kulliyah of Economics and Management Sciences, IIUM. During his doctoral studies, he worked as a part time tutor at University of Nottingham and Nottingham Trent International College. His main research interests are in the area of asset pricing, portfolio theory, capital structure and international finance. He currently serves as Associate Dean for School of Graduate & Professional Studies (SGPS).

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Top Country : Malaysia

Showing results 1 to 10 of 61
  • ethical_investments_financial_performance_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This paper examines the financial performance of ethical funds in different regions and concludes that there is a cost attached to ethical investing. An analysis of 964 mutual funds comprising of Socially responsible funds (SRFs) and the Shariah-compliant equity funds (SCFs) suggests that: a) except for global funds, both types of funds underperform in the market, b) both types of funds are preferred for investment in growth and momentum stocks, c) SRFs are preferred for small capitalized stocks whereas SCFs do not follow any specific style or investment strategy, d) unlike SRFs, SCFs do not provide a safe haven for investors during crises. These findings are probably due to the lack ...

  • the_substitution_hypothesis_agency_conflicts_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Anwer, Zaher; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • According to the substitution hypothesis and recent evidence, firms that are better governed carry less debt and experience fewer agency problems. This may also imply that firms with lower debt are better governed and experience lower agency costs. We test this hypothesis by comparing the agency costs of Shariah compliant (SC, and therefore low debt) and Shariah noncompliant (SNC) firms, using a proprietary dataset comprising constituents of the Dow Jones Islamic index for the period 2006-2015. The findings support the hypothesis but are contingent on the firm's idiosyncratic risk; SC firms with low idiosyncratic risk have higher agency costs.

  • Nonfinancial_traits_and_financial_smartness_wajahat_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2018)

  • This paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a signif...

  • item.jpg
  • PhD


  • Authors: Mohd Jaapar, Asmah (2018)

  • The changes in equity index composition have a dual impact, first, to the constituent stocks that make up the index and second, to the index funds that track the index. This study investigates the index effect at constituent stocks level and index funds level using Shari'ah blue-chip indices and their corresponding i-ETFs. The findings of this study provide a new evidence on price discovery contrary to index effect reported in conventional index studies. Specifically, the study discovers the index effect in an opposite direction, i.e., additions suffered negative abnormal returns while deletions gained positive abnormal returns around index revision period. Available in physical copy ...

  • PhD_Political_connections_shariah_compliance_and_firms_performance_malaysian_experience_Irum_Saba.pdf.jpg
  • PhD


  • Authors: Saba, Irum (2017)

  • Businesses and politics are two important blocks for the economic growth of any country. This dissertation focuses on the determinants of the performance of the listed firms in the case of Malaysia with the analysis and impact of political connections and Shari'ah compliance on the performance of the listed firms for the year 2000-2014. The research also focuses on the performance of firms having political affiliations and who also attain the status of Shari'ah compliance as per the rule book of the Securities and Exchange Commission of Malaysia. The results of our study shows, certain firm-specific ... Available in physical copy and downloadable format (Call Number: t BP 173.75 S1...

  • PhD_Non_intermediation_activities_and_impacts_on_bank_performance_Mohsin_Ali.pdf.jpg
  • PhD


  • Authors: Ali, Mohsin (2017)

  • In the wake of increasing competition and financial deregulation, the traditional intermediation activities have been declining as proportion of total banking activities. Banks are left with no choice but to be more creative to survive in the market place. Therefore, banks have been attempting to offset this decline in profits with income generated from non-traditional / non-intermediation activities. After the recent global crisis, both Islamic and conventional banks in OIC countries have also shifted their business focus. This invites a thorough investigation into the impact of non-intermediation activities on bank performance as well as on the economic growth and volatility. In the...

  • IF_Hub_Issue_1_Research_Islamic_banking_Malaysia_Eskandar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Islamic banking has experienced some success globally, with an annual double digit growth rate (an average of 15% to 20% annually) in the last decade. But to maintain the momentum, the industry has to improve on a number of pertinent aspects. For instance, establishing a common regulatory, legislative, tax, and legal foundation, addressing cost-efficiency and integration issues for all Islamic financial markets in general and the Islamic banking sector in particular. Retrospectively, Malaysia, a rapidly developing vibrant economy has positioned itself as an international hub for Islamic banking and finance. The research interest on Islamic banking in Malaysia has been intensive but on...

  • IF_Hub_Issue_3_Flow_performance_relationship_Chaudhari_Shamsher_Eskandar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The motivation to examine flow-performance relationship of Shariah compliant funds (SCFs) and Socially responsible funds (SRFs) is that investors investing in these two funds have certain non-financial motives such as religious, ethical, environmental etc. Renneboog et al., (2011) explained that more the investor is averse to certain non-ethical or non-religious corporate behavior the more satisfaction he/she gets by investing in the funds that are in line with his/her ethical or religious position. The above conjecture that the SRF and SCF investors chose funds based on a dual objective of socially responsible/religious investing and financial gains is in line with the way generally ...

  • chapter 5_the islamic capital market_obiyathulla.jpg.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The global Islamic finance industry has evolved from a small industry to a dynamic, robust, and competitive one. Currently, the industry, built on the notion of justice and fairness, has a global asset size of approximately USD2 trillion (MIFC, 2016). Despite the soft global economic outlook, this industry is expected to grow as many more nations are embracing this alternative system that is proven to be not only profitable but also resilient to macroeconomic shocks. Available in physical copy only (Call Number: HG 3368 A6 I82Ba)

Dr. Mohamed Eskandar Shah Mohd Rasid
author picture
Qualification: Ph.D.in Finance, University of Nottingham, U.K (2012)
Fields/Area of Specialization: Asset Pricing, Portfolio Theory, Capital Structure and International Finance
Dr Mohamed Eskandar Shah Mohd Rasid holds a PhD in Finance from University of Nottingham, United Kingdom. Prior to joining INCEIF, he was an Assistant Professor at Department of Finance, Kulliyah of Economics and Management Sciences, IIUM. During his doctoral studies, he worked as a part time tutor at University of Nottingham and Nottingham Trent International College. His main research interests are in the area of asset pricing, portfolio theory, capital structure and international finance. He currently serves as Associate Dean for School of Graduate & Professional Studies (SGPS).
Showing results 1 to 10 of 61
  • ethical_investments_financial_performance_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This paper examines the financial performance of ethical funds in different regions and concludes that there is a cost attached to ethical investing. An analysis of 964 mutual funds comprising of Socially responsible funds (SRFs) and the Shariah-compliant equity funds (SCFs) suggests that: a) except for global funds, both types of funds underperform in the market, b) both types of funds are preferred for investment in growth and momentum stocks, c) SRFs are preferred for small capitalized stocks whereas SCFs do not follow any specific style or investment strategy, d) unlike SRFs, SCFs do not provide a safe haven for investors during crises. These findings are probably due to the lack ...

  • the_substitution_hypothesis_agency_conflicts_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Anwer, Zaher; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • According to the substitution hypothesis and recent evidence, firms that are better governed carry less debt and experience fewer agency problems. This may also imply that firms with lower debt are better governed and experience lower agency costs. We test this hypothesis by comparing the agency costs of Shariah compliant (SC, and therefore low debt) and Shariah noncompliant (SNC) firms, using a proprietary dataset comprising constituents of the Dow Jones Islamic index for the period 2006-2015. The findings support the hypothesis but are contingent on the firm's idiosyncratic risk; SC firms with low idiosyncratic risk have higher agency costs.

  • Nonfinancial_traits_and_financial_smartness_wajahat_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2018)

  • This paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a signif...

  • item.jpg
  • PhD


  • Authors: Mohd Jaapar, Asmah (2018)

  • The changes in equity index composition have a dual impact, first, to the constituent stocks that make up the index and second, to the index funds that track the index. This study investigates the index effect at constituent stocks level and index funds level using Shari'ah blue-chip indices and their corresponding i-ETFs. The findings of this study provide a new evidence on price discovery contrary to index effect reported in conventional index studies. Specifically, the study discovers the index effect in an opposite direction, i.e., additions suffered negative abnormal returns while deletions gained positive abnormal returns around index revision period. Available in physical copy ...

  • PhD_Political_connections_shariah_compliance_and_firms_performance_malaysian_experience_Irum_Saba.pdf.jpg
  • PhD


  • Authors: Saba, Irum (2017)

  • Businesses and politics are two important blocks for the economic growth of any country. This dissertation focuses on the determinants of the performance of the listed firms in the case of Malaysia with the analysis and impact of political connections and Shari'ah compliance on the performance of the listed firms for the year 2000-2014. The research also focuses on the performance of firms having political affiliations and who also attain the status of Shari'ah compliance as per the rule book of the Securities and Exchange Commission of Malaysia. The results of our study shows, certain firm-specific ... Available in physical copy and downloadable format (Call Number: t BP 173.75 S1...

  • PhD_Non_intermediation_activities_and_impacts_on_bank_performance_Mohsin_Ali.pdf.jpg
  • PhD


  • Authors: Ali, Mohsin (2017)

  • In the wake of increasing competition and financial deregulation, the traditional intermediation activities have been declining as proportion of total banking activities. Banks are left with no choice but to be more creative to survive in the market place. Therefore, banks have been attempting to offset this decline in profits with income generated from non-traditional / non-intermediation activities. After the recent global crisis, both Islamic and conventional banks in OIC countries have also shifted their business focus. This invites a thorough investigation into the impact of non-intermediation activities on bank performance as well as on the economic growth and volatility. In the...

  • IF_Hub_Issue_1_Research_Islamic_banking_Malaysia_Eskandar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Islamic banking has experienced some success globally, with an annual double digit growth rate (an average of 15% to 20% annually) in the last decade. But to maintain the momentum, the industry has to improve on a number of pertinent aspects. For instance, establishing a common regulatory, legislative, tax, and legal foundation, addressing cost-efficiency and integration issues for all Islamic financial markets in general and the Islamic banking sector in particular. Retrospectively, Malaysia, a rapidly developing vibrant economy has positioned itself as an international hub for Islamic banking and finance. The research interest on Islamic banking in Malaysia has been intensive but on...

  • IF_Hub_Issue_3_Flow_performance_relationship_Chaudhari_Shamsher_Eskandar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The motivation to examine flow-performance relationship of Shariah compliant funds (SCFs) and Socially responsible funds (SRFs) is that investors investing in these two funds have certain non-financial motives such as religious, ethical, environmental etc. Renneboog et al., (2011) explained that more the investor is averse to certain non-ethical or non-religious corporate behavior the more satisfaction he/she gets by investing in the funds that are in line with his/her ethical or religious position. The above conjecture that the SRF and SCF investors chose funds based on a dual objective of socially responsible/religious investing and financial gains is in line with the way generally ...

  • chapter 5_the islamic capital market_obiyathulla.jpg.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The global Islamic finance industry has evolved from a small industry to a dynamic, robust, and competitive one. Currently, the industry, built on the notion of justice and fairness, has a global asset size of approximately USD2 trillion (MIFC, 2016). Despite the soft global economic outlook, this industry is expected to grow as many more nations are embracing this alternative system that is proven to be not only profitable but also resilient to macroeconomic shocks. Available in physical copy only (Call Number: HG 3368 A6 I82Ba)