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).

Content Distribution

ABSTRACTS VIEWS

1993

VIEWS & DOWNLOAD

331

Top Country : Malaysia

Showing results 1 to 20 of 65
  • 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.

  • item.jpg
  • PhD


  • Authors: Tengku Zainal Abidin, Tengku Roziana (2019)

  • The world is striving towards eradicating poverty via inclusive growth. Financial inclusion is seen as an important tool towards getting the unbanked, poor population into the financial system. Does greater financial inclusion create financial stability? Engaging the less financially capable people into the financial system is not a risk-free undertaking. Relaxation of rules and regulations which trigger sub-prime crisis in 2007-2008 has proven that more exposure to 'unfit' borrowers may lead to financial instability. Our study focuses on OIC countries for the impressive growth of lslamic finance during the past decade where 95% of the assets reside in the majority-Muslims countries y...

  • chapter 9_shariah_committees_shariah_governance_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter discusses some challenges of Shariah Committees In Islamic financial institutions in dispensing their responsibilities in mitigating the non-compliance risks. The concept of shariah governance has its foundation in the Qur'an and the Sunnah. Shariah (which literally means "the way") is the divinely ordained guidelines of conduct for Muslims in all aspects of their life, which includes financial matters. Any form of transaction, irrespective of financial or otherwise, must be free of any element of injustice to the transacting parties. For financial transactions, any elemerit or form of activity that could be construed as 'riba' or injustice to any of the participants in t...

  • chapter 8_application_Shariah_governance_framework_Islamic_financial_institutions_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter provides discussion on a study that investigates the perceptions on shariah governance practices among Malaysian Islamic financial institutions. The chapter explores the effectiveness of implementation of Shariah Governance Framework among Malaysian IFIs with the focus on their level of commitment, the challenges and suggestions to further improve the effectiveness of implementation of this framework. The system of corporate control, effective and efficient governance that is consistent with shariah guidance has been an important agenda for Islamic Financial Institutions (IFIs) since the existence ofIslamic Finance in Malaysia. This is especially important in light of rap...

  • item.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah; Uddin, Ajim; Chowdhury, Mohammad Ashraful Ferdous (2019)

  • The capital structure choices of a firm not only determine the current value of the firm, but also largely determine its long-term survival. Modigliani and Miller's seminal 1958 paper explicates conventional firms' capital structure choices. However, we are yet to develop a solid theoretical framework about the financing decisions of Islamic firms. This is a review chapter on current developments in the field of Islamic capital structure. The chapter starts with a short discussion about the various sources of capital and their advantages and disadvantages, followed by a detailed description of traditional capital structure theories and their real-world empirical evidence. Finally, it ...

  • 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.

  • 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...

  • 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)

  • determinants_of_performance_2728.jpg.jpg
  • Chapter in Book


  • Authors: Chowdhury, Mohammad Ashraful Ferdous; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The main objective of this study is to identify the main determinants of the Islamic banks' performance in Gulf Cooperation Council (GCC) regions. The research uses both static model (fixed effects and random effects) and Generalized method of Moments (GMM). The data for this study are obtained from the annual reports of 29 Islamic banks from GCC countries using Bankscope database for the period from 2005 to 2013. The empirical findings reveal that Islamic banks' specific factors such as the equity financing and bank size are positive and statistically significant to the profitability of Islamic banks. The operating efficiency ratio is negatively and statistically significant to retur...

  • item.jpg
  • Master


  • Authors: Yungucu, Burak (2017)

  • From the start of 21st century, there has been rapidly increasing awareness of the environmental impact of people's way of life and usage of resources. This impact arises from overconsumption, pollution, destruction of natural resources which result in emission of greenhouse gases, and permanent destruction that mankind cause to the planet. As the awareness of the serious and far-reaching consequences of climate change continues to grow, communities are looking for solutions to slow down, halt, and mitigate ... Available in physical copy only (Call Number: t HG 3368 A6 Y95)

  • item.jpg
  • Master


  • Authors: Mohd Hodori, Muhammad 'Arif (2017)

  • Herding behaviour refers to an alignment of thoughts or behaviours of individuals in a group. In the case of capital market, it has been studied by several researchers such as Chang et al. (2000) and (Gavriilidis et al., 2015). Being a multicultural and multiracial country, and one of the main markets for the Islamic capital market, Malaysia provides a conducive landscape for the study of herding behaviour. The main motive for conducting this study is to investigate the presence of herding behaviour in Malaysia's religious holiday period, it's characteristic in reference to all securities and shariah-compliant securities ...

  • do_profit_sharing_investment_account_holders_provide_market_discipline_in_an_Islamic_banking_system_eskandar.pdf.jpg
  • Journal Article


  • Authors: Alaeddin, Omar; Archer, Simon; Abdel Karim, Rifaat Ahmed; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Market discipline is one of the main pillars of stability and resiliency in the banking system. The mechanism of market discipline primarily relies on the role of depositors who receive timely information and act accordingly through their respective accounts. In this study, we use generalized method of moments panel technique for 44 Islamic banks across different regions to research the presence of market discipline in the global Islamic banking system, focusing on the behaviour of the PSIA holders and their role in the governance of Islamic banks. These results have a significant policy implication in reviewing the framework governing the Islamic banks.

  • do_cost_efficiency_affects_liquidity_risk_in_banking_eskandar.pdf.jpg
  • Journal Article


  • Authors: Mohd Amin, Syajarul Imna; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Cost efficiency plays a significant role in bank risk taking behaviour. This paper examines the effect of cost efficiency on the liquidity risk of Islamic banks and conventional banks in 16 OIC countries from 1999 to 2013. The findings suggest that cost efficiency has a positive effect on liquidity risk. Other significant factors of liquidity risk include capital, bank specialization, credit risk, profitability, size, GDP and inflation whereas market concentration is not significant contributor to banking liquidity risk. There is weak evidence to support the notion that Islamic banks have higher level of liquidity risk than conventional banks. The findings imply the need to provide li...

  • CIAWM_Issue3_Market_timing_and_selection_skills_of_fund_managers_Wajahat_Shamsher_Eskandar.pdf.jpg
  • Newsletter & Bulletin


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

  • We assess the managerial skills of globally invested 686 ethical funds taking into consideration the macroeconomic efficiency and fund inflows/outflows. It was observed that managers exhibit negative selection and market timing skills but no consistent pattern for style timing. A cursory glance at the literature indicates little support for superior managerial abilities, especially in terms of timing skills. Notwithstanding, some have highlighted the importance of including fund flows in the traditional models and argue that excluding it can lead to spurious timing skills (Bollen and Busse, 2001). The findings indicate that the investors increase their exposure to funds during a bulli...

  • Testing_the_financial_2679.jpg.jpg
  • Chapter in Book


  • Authors: Mohamad Shafi, Roslina; Syed Mohd Zain, Syed Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mydin Meera, Ahamed Kameel (2017)

  • Similar to any type of financial asset, sukuk are vulnerable to macroeconomic conditions and business cycles. In 1999, there were a series of high-profile sukuk defaults globally that tarnised the market's confidence in sukuk. Among these were the East Cameron Partners (ECP), in which the company failed to pay the periodic returns that amounted to US$166 million (Zaheer and Wijnbergen, 2013). Nakheel Sukuk of Dubai are issued by the Gulf Cooperation Council (GCC) and Malaysian companies that include Johor Corporation, Ingress Sukuk Berhad, Tracoma Holdings Berhad and Nam Fatt Corporation Berhad.

  • Explaining intermediation costs of Islamic banks in OIC countries_mansor.jpg.jpg
  • Chapter in Book


  • Authors: Abdul Kader Malim, Nurhafiza; Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The rapid growth of Islamic finance, especially Islamic banking, and its perceived resiliency during the global financial crisis have been key features in recent Islamic finance literature. The Islamic banking business model has also started to attract empirical attention from economists as to whether it can instil the much needed stability into the financial system. While some studies have offered evidence that Islamic banks are relatively more stable and resilient than their conventional counterparts (Cihak and Hesse, 2010; Hasan and Dridi, 2010), there still remain several concerns over whether Islamic banks can play a distinct role in the stability of the financial system and can ...

  • enhancing_real_economy_what_role_social_cohesion.pdf.jpg
  • Academic Presentation


  • Authors: Tengku Zainal Abidin, Tengku Roziana; Abdul Kareem, Mohamed Ariff; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The slides highlight 1) finance growth theory used in the study; 2) social cohesion and growth nexus.

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 20 of 65
  • 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.

  • item.jpg
  • PhD


  • Authors: Tengku Zainal Abidin, Tengku Roziana (2019)

  • The world is striving towards eradicating poverty via inclusive growth. Financial inclusion is seen as an important tool towards getting the unbanked, poor population into the financial system. Does greater financial inclusion create financial stability? Engaging the less financially capable people into the financial system is not a risk-free undertaking. Relaxation of rules and regulations which trigger sub-prime crisis in 2007-2008 has proven that more exposure to 'unfit' borrowers may lead to financial instability. Our study focuses on OIC countries for the impressive growth of lslamic finance during the past decade where 95% of the assets reside in the majority-Muslims countries y...

  • chapter 9_shariah_committees_shariah_governance_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter discusses some challenges of Shariah Committees In Islamic financial institutions in dispensing their responsibilities in mitigating the non-compliance risks. The concept of shariah governance has its foundation in the Qur'an and the Sunnah. Shariah (which literally means "the way") is the divinely ordained guidelines of conduct for Muslims in all aspects of their life, which includes financial matters. Any form of transaction, irrespective of financial or otherwise, must be free of any element of injustice to the transacting parties. For financial transactions, any elemerit or form of activity that could be construed as 'riba' or injustice to any of the participants in t...

  • chapter 8_application_Shariah_governance_framework_Islamic_financial_institutions_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter provides discussion on a study that investigates the perceptions on shariah governance practices among Malaysian Islamic financial institutions. The chapter explores the effectiveness of implementation of Shariah Governance Framework among Malaysian IFIs with the focus on their level of commitment, the challenges and suggestions to further improve the effectiveness of implementation of this framework. The system of corporate control, effective and efficient governance that is consistent with shariah guidance has been an important agenda for Islamic Financial Institutions (IFIs) since the existence ofIslamic Finance in Malaysia. This is especially important in light of rap...

  • item.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah; Uddin, Ajim; Chowdhury, Mohammad Ashraful Ferdous (2019)

  • The capital structure choices of a firm not only determine the current value of the firm, but also largely determine its long-term survival. Modigliani and Miller's seminal 1958 paper explicates conventional firms' capital structure choices. However, we are yet to develop a solid theoretical framework about the financing decisions of Islamic firms. This is a review chapter on current developments in the field of Islamic capital structure. The chapter starts with a short discussion about the various sources of capital and their advantages and disadvantages, followed by a detailed description of traditional capital structure theories and their real-world empirical evidence. Finally, it ...

  • 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.

  • 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...

  • 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)

  • determinants_of_performance_2728.jpg.jpg
  • Chapter in Book


  • Authors: Chowdhury, Mohammad Ashraful Ferdous; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The main objective of this study is to identify the main determinants of the Islamic banks' performance in Gulf Cooperation Council (GCC) regions. The research uses both static model (fixed effects and random effects) and Generalized method of Moments (GMM). The data for this study are obtained from the annual reports of 29 Islamic banks from GCC countries using Bankscope database for the period from 2005 to 2013. The empirical findings reveal that Islamic banks' specific factors such as the equity financing and bank size are positive and statistically significant to the profitability of Islamic banks. The operating efficiency ratio is negatively and statistically significant to retur...

  • item.jpg
  • Master


  • Authors: Yungucu, Burak (2017)

  • From the start of 21st century, there has been rapidly increasing awareness of the environmental impact of people's way of life and usage of resources. This impact arises from overconsumption, pollution, destruction of natural resources which result in emission of greenhouse gases, and permanent destruction that mankind cause to the planet. As the awareness of the serious and far-reaching consequences of climate change continues to grow, communities are looking for solutions to slow down, halt, and mitigate ... Available in physical copy only (Call Number: t HG 3368 A6 Y95)

  • item.jpg
  • Master


  • Authors: Mohd Hodori, Muhammad 'Arif (2017)

  • Herding behaviour refers to an alignment of thoughts or behaviours of individuals in a group. In the case of capital market, it has been studied by several researchers such as Chang et al. (2000) and (Gavriilidis et al., 2015). Being a multicultural and multiracial country, and one of the main markets for the Islamic capital market, Malaysia provides a conducive landscape for the study of herding behaviour. The main motive for conducting this study is to investigate the presence of herding behaviour in Malaysia's religious holiday period, it's characteristic in reference to all securities and shariah-compliant securities ...

  • do_profit_sharing_investment_account_holders_provide_market_discipline_in_an_Islamic_banking_system_eskandar.pdf.jpg
  • Journal Article


  • Authors: Alaeddin, Omar; Archer, Simon; Abdel Karim, Rifaat Ahmed; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Market discipline is one of the main pillars of stability and resiliency in the banking system. The mechanism of market discipline primarily relies on the role of depositors who receive timely information and act accordingly through their respective accounts. In this study, we use generalized method of moments panel technique for 44 Islamic banks across different regions to research the presence of market discipline in the global Islamic banking system, focusing on the behaviour of the PSIA holders and their role in the governance of Islamic banks. These results have a significant policy implication in reviewing the framework governing the Islamic banks.

  • do_cost_efficiency_affects_liquidity_risk_in_banking_eskandar.pdf.jpg
  • Journal Article


  • Authors: Mohd Amin, Syajarul Imna; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • Cost efficiency plays a significant role in bank risk taking behaviour. This paper examines the effect of cost efficiency on the liquidity risk of Islamic banks and conventional banks in 16 OIC countries from 1999 to 2013. The findings suggest that cost efficiency has a positive effect on liquidity risk. Other significant factors of liquidity risk include capital, bank specialization, credit risk, profitability, size, GDP and inflation whereas market concentration is not significant contributor to banking liquidity risk. There is weak evidence to support the notion that Islamic banks have higher level of liquidity risk than conventional banks. The findings imply the need to provide li...

  • CIAWM_Issue3_Market_timing_and_selection_skills_of_fund_managers_Wajahat_Shamsher_Eskandar.pdf.jpg
  • Newsletter & Bulletin


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

  • We assess the managerial skills of globally invested 686 ethical funds taking into consideration the macroeconomic efficiency and fund inflows/outflows. It was observed that managers exhibit negative selection and market timing skills but no consistent pattern for style timing. A cursory glance at the literature indicates little support for superior managerial abilities, especially in terms of timing skills. Notwithstanding, some have highlighted the importance of including fund flows in the traditional models and argue that excluding it can lead to spurious timing skills (Bollen and Busse, 2001). The findings indicate that the investors increase their exposure to funds during a bulli...

  • Testing_the_financial_2679.jpg.jpg
  • Chapter in Book


  • Authors: Mohamad Shafi, Roslina; Syed Mohd Zain, Syed Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mydin Meera, Ahamed Kameel (2017)

  • Similar to any type of financial asset, sukuk are vulnerable to macroeconomic conditions and business cycles. In 1999, there were a series of high-profile sukuk defaults globally that tarnised the market's confidence in sukuk. Among these were the East Cameron Partners (ECP), in which the company failed to pay the periodic returns that amounted to US$166 million (Zaheer and Wijnbergen, 2013). Nakheel Sukuk of Dubai are issued by the Gulf Cooperation Council (GCC) and Malaysian companies that include Johor Corporation, Ingress Sukuk Berhad, Tracoma Holdings Berhad and Nam Fatt Corporation Berhad.

  • Explaining intermediation costs of Islamic banks in OIC countries_mansor.jpg.jpg
  • Chapter in Book


  • Authors: Abdul Kader Malim, Nurhafiza; Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The rapid growth of Islamic finance, especially Islamic banking, and its perceived resiliency during the global financial crisis have been key features in recent Islamic finance literature. The Islamic banking business model has also started to attract empirical attention from economists as to whether it can instil the much needed stability into the financial system. While some studies have offered evidence that Islamic banks are relatively more stable and resilient than their conventional counterparts (Cihak and Hesse, 2010; Hasan and Dridi, 2010), there still remain several concerns over whether Islamic banks can play a distinct role in the stability of the financial system and can ...

  • enhancing_real_economy_what_role_social_cohesion.pdf.jpg
  • Academic Presentation


  • Authors: Tengku Zainal Abidin, Tengku Roziana; Abdul Kareem, Mohamed Ariff; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The slides highlight 1) finance growth theory used in the study; 2) social cohesion and growth nexus.