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

2237

VIEWS & DOWNLOAD

540

Top Country : Malaysia

Showing results 1 to 20 of 57
  • Are_deposit_investment_accounts_Islamic_banks_Malaysia_interest_free_Shamsher_Eskandar.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2014)

  • Islamic banking and Finance (IBF) provides products and services guided by the Shariah. Therefore, they are supposed to be different from their conventional counterparts. Islamic deposit rates should be different from conventional deposit rates. Islamic banking profit rates are supposedly less risky due to risksharing attribute embedded in their structure as compared to the conventional banking interest rates on similar-risk investment products. This paper addresses this concern by examining the differences in the monthly fixed deposit rates of conventional and investment deposit rates of Islamic banks and finance companies in Malaysia for the period from January 1994 to December 2012...

  • bank_lending_macroeconomic_conditions_financial_uncertainty_evidence_malaysia_eskandar_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2012)

  • In this paper, we examine the interrelations between bank lending, macroeconomic conditions and financial uncertainty for an emerging economy, Malaysia. Adopting time series techniques of cointegration, causality and vector autoregressions (VARs), we arrive at the following main results. We note long run positive relations between real output and both real bank credits and real stock prices. However, with slow adjustment of real output in responses to credit expansion or stock price increase and weak exogeneity of the latter two variables, both credits and stock prices can be persistently higher than their fundamental values. The phenomenon can be detrimental since it heightens market...

  • item.jpg
  • Master


  • Authors: Hasnul, Al Gifari (2017)

  • The topic of poverty and inequality is still a central discussion among the economist. The current efforts in fighting poverty and inequality, which are considered unsuccessful, has motivated the economist and policy makers to find new ideas and strategies in combatting poverty and inequality. At the same time, the area of economic freedom is increasingly being discussed and linked with other major economic areas. This paper aims to examine the relationship between economic freedom and poverty as well as inequality ... Available in physical copy only (Call Number: t HC 59.72 P6 H352)

  • challenges_facing_shariah_committees_malaysian_islamic_financial_institutions_shamsher.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhammad Sori, Zulkarnain; Mohd Rasid, Mohamed Eskandar Shah (2016)

  • An effective system of rules, practices and processes by which Islamic Financial Institutions (IFIs) are directed and controlled to ensure their business operations are Shariah-compliant, which has important implications on their reputation, Shariah governance and the future growth of Islamic finance industry. Sixteen Chairmen of the Shariah Committees of Islamic financial institutions in Malaysia were interviewed on the challenges faced in carrying out their responsibilities and theri views on effective Shariah Committees. This paper summarizes the various challenges faced by Shariah committees in Islamic financial institutions in Malaysia.

  • item.jpg
  • Master


  • Authors: Mobin, Mohammad Ashraful (2015)

  • The ability of banks in giving out loans and investments depends very much on their ability of attracting deposits. Unlike its conventional counterpart, Islamic principles forbid Islamic banks to take any interest-related income amid the fact that deposits are an important source of fund for its operational and financing. Consequently, the risk of deposit withdrawal by depositors is an important aspect that should be well managed in both conventional and Islamic banking system. Therefore, the objective of this study is to examine the effect of selected economic and bank specific variables on deposits placed at the Islamic and conventional banks ... Available in physical copy only (...

  • item.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...

  • dispelling_myth_value_premium_contrary_evidence_Malaysian_crony_capitalism_eskandar.pdf.jpg
  • Journal Article


  • Authors: Ebrahim, Muhammed-Shahid; Hudson, Robert; Iqbal, Abdullah; Mohd Rasid, Mohamed Eskandar Shah (2016)

  • This paper contradicts the existence of a universal value anomaly by studying Malaysia, a country with a unique institutional setting. We investigate this counter-example to attribute the anomaly to: 1) the leverage effect of value firms; 2) the investment pattern of growth firms; 3) the economic environment. We find that the value premium cannot be ascribed solely to risk as it is time varying and dependent on the attributes of the companies. Our results illustrate that small cap value firms perform relatively well during favourable economic conditions. In contrast, large cap growth firms perform better than their counterparts (i.e., large cap value firms) in economic upturns as they...

  • dispelling_the_myth_of_a_value_premium_contrary_evidence_of_malaysian_crony_capitalism_mohamed_eskandar.pdf.jpg
  • Academic Presentation


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2016)

  • This study aims to dispel the myth of the value anomaly by employing the logic of the well-known Austrian British philosopher Sir Karl Raimund Popper, who espoused that positive outcomes of empirical observation cannot confirm an anomaly, such as value premium (Popper, 1953).

  • 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...

  • item.jpg
  • Master


  • Authors: Othman, Arshad Nuval (2015)

  • The paper explores the economic and security dependence of an entity on others as reasons for the inability to implement military intervention by applying forecast error variance decomposition (FEVD) on economic and security data. Specifically, the paper evaluates the economic and security dependence of the Organization for Islamic Cooperation (OIC) on the United Nations (UN) Security Council to understand OIC's inability to initiate military intervention in OIC member countries ... Available in physical copy only (Call Number: t HB 126.4 A781)

  • 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.

  • item.jpg
  • Master


  • Authors: Nasir, Abdal (2015)

  • This paper examines the long run relationship between Vietnam stock market and her ASEAN partners like Malaysia, Singapore, Thailand, Indonesia and the Philippines. The paper uses the weekly data from July 2006 till February 2014 and run through an analyzed using time series techniques in order to test for cointegration of Vietnam stock market with ASEAN members. Eagle-Granger, Johansen-Jeselius (JJ), and Vector Error Correction Model (VECM) methods are used in analyzing data. The results obtained from JJ test find at most one cointegration among ASEAN members ... Available in physical copy only (Call Number: t HG 5740.8 A135)

  • item.jpg
  • Master


  • Authors: Quadri, Syed Adnan (2015)

  • This paper investigates the target capital structure adjustment by Malaysia and Singapore, with a view to determine whether they exhibit similar behaviour. Firms may temporarily diverge from their target capital structure but seek to return optimal capital structure when indications of crisis are seen as well as in the aftermath of a crisis. Firms which are not on their optimum capital structure face high detrimental costs for being in such a position ... Available in physical copy only (Call Number: t HG 4026 Q1)

  • dynamic_capital_structure_financial_crisis_eskandar_2015.pdf.jpg
  • Industry Article


  • Authors: Syed Quadri, Syed Adnan; Mohd Rasid, Mohamed Eskandar Shah (2015-06-26)

  • In presence of the market frictions, firms aim to attain target capital structure by making strategic choices towards re-engineering the leverage. These choices influence not only firm’s investment patterns, capital costs and expected returns but also lead to conflict of interest among the stakeholders. The dynamic market forces make targeting a continuous exercise for the firm, as it strives to make optimal financing decisions to raise its value and reduce the risk of bankruptcy. An occurrence of acute financial crisis disturbs the capital structure and firms may foresee this and try to adjust. If adjustment is seen prior to a crisis in favour of higher leverage and moving away from ...

  • dynamic_capital_structure_political_patronage_case_Malaysia_eskandar.pdf.jpg
  • Journal Article


  • Authors: Ebrahim, Muhammed-Shahid; Girmab, Sourafel; Mohd Rasid, Mohamed Eskandar Shah; William, Jonathan (2014)

  • This paper investigates the effect of political patronage on firms' capital structure. The evidence is from Malaysia, a country characterised by relationship-capitalism, and covers 1988 to 2009. Using a system GMM estimator we find firms set leverage targets and adjust towards them following deviations at the rate of 28% per annum. Next, we construct a natural experiment and use a difference-in-differences model to investigate if the strategic financing decisions of politically patronised firms differ from non-connected firms after an exogenous shock caused by the 1997 Asian crisis. Our results unambiguously demonstrate a significant difference in the capital structure of patronised f...

  • item.jpg
  • Master


  • Authors: Javaid, Muhammad Usman (2016)

  • Income inequality isn't new thing, but recently it has made it presence in news, political discussions etc. It has now become the key and defining challenge of our time. Both the developed and developing countries have reported massive amount of income disparities within their respected countries. In this paper we study the links and effects of the macroeconomic variables especially economic development and financial development on income inequality. We restrict our study to OIC countries. Simon Kuznet hypothesis is taken as the theoretical basis for this study ... Kindly email to kmc@inceif.org to access the item.

  • efficiency_commercial_banks_Malaysia_azmi_abdul_rahim_rosylin_shabri_eskandar.pdf.jpg
  • Journal Article


  • Authors: Omar, Mohd. Azmi; Abdul Rahman, Abdul Rahim; Mohd. Yusuf, Rosylin; Abd. Majid, M. Shabri; Mohd Rasid, Mohamed Eskandar Shah (2006)

  • This study investigates the change in the productivity of banking industry during the period of 2000 to 2004. The data consists of a panel of 11 commercial banks in Malaysia namely Malayan Banking, Bumiputra-Commerce, Public Bank, RHB Bank, Hong Leong Berhad, EON Bank, Affin Bank, Southern Bank Berhad, Bank Islam Malaysia Berhad (BIMB), Ambank and Bank Muamalat. Productivity is measured by the Malmquist index, using a Data Envelopment Analysis (DEA) technique. The Malmquist productivity measures are decomposed into two components: efficiency change and technical change index. Efficiency change is again decomposed into pure efficiency and scale efficiency. Overall, the results show tha...

  • 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.

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • 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 ...

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 57
  • Are_deposit_investment_accounts_Islamic_banks_Malaysia_interest_free_Shamsher_Eskandar.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2014)

  • Islamic banking and Finance (IBF) provides products and services guided by the Shariah. Therefore, they are supposed to be different from their conventional counterparts. Islamic deposit rates should be different from conventional deposit rates. Islamic banking profit rates are supposedly less risky due to risksharing attribute embedded in their structure as compared to the conventional banking interest rates on similar-risk investment products. This paper addresses this concern by examining the differences in the monthly fixed deposit rates of conventional and investment deposit rates of Islamic banks and finance companies in Malaysia for the period from January 1994 to December 2012...

  • bank_lending_macroeconomic_conditions_financial_uncertainty_evidence_malaysia_eskandar_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2012)

  • In this paper, we examine the interrelations between bank lending, macroeconomic conditions and financial uncertainty for an emerging economy, Malaysia. Adopting time series techniques of cointegration, causality and vector autoregressions (VARs), we arrive at the following main results. We note long run positive relations between real output and both real bank credits and real stock prices. However, with slow adjustment of real output in responses to credit expansion or stock price increase and weak exogeneity of the latter two variables, both credits and stock prices can be persistently higher than their fundamental values. The phenomenon can be detrimental since it heightens market...

  • item.jpg
  • Master


  • Authors: Hasnul, Al Gifari (2017)

  • The topic of poverty and inequality is still a central discussion among the economist. The current efforts in fighting poverty and inequality, which are considered unsuccessful, has motivated the economist and policy makers to find new ideas and strategies in combatting poverty and inequality. At the same time, the area of economic freedom is increasingly being discussed and linked with other major economic areas. This paper aims to examine the relationship between economic freedom and poverty as well as inequality ... Available in physical copy only (Call Number: t HC 59.72 P6 H352)

  • challenges_facing_shariah_committees_malaysian_islamic_financial_institutions_shamsher.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhammad Sori, Zulkarnain; Mohd Rasid, Mohamed Eskandar Shah (2016)

  • An effective system of rules, practices and processes by which Islamic Financial Institutions (IFIs) are directed and controlled to ensure their business operations are Shariah-compliant, which has important implications on their reputation, Shariah governance and the future growth of Islamic finance industry. Sixteen Chairmen of the Shariah Committees of Islamic financial institutions in Malaysia were interviewed on the challenges faced in carrying out their responsibilities and theri views on effective Shariah Committees. This paper summarizes the various challenges faced by Shariah committees in Islamic financial institutions in Malaysia.

  • item.jpg
  • Master


  • Authors: Mobin, Mohammad Ashraful (2015)

  • The ability of banks in giving out loans and investments depends very much on their ability of attracting deposits. Unlike its conventional counterpart, Islamic principles forbid Islamic banks to take any interest-related income amid the fact that deposits are an important source of fund for its operational and financing. Consequently, the risk of deposit withdrawal by depositors is an important aspect that should be well managed in both conventional and Islamic banking system. Therefore, the objective of this study is to examine the effect of selected economic and bank specific variables on deposits placed at the Islamic and conventional banks ... Available in physical copy only (...

  • item.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...

  • dispelling_myth_value_premium_contrary_evidence_Malaysian_crony_capitalism_eskandar.pdf.jpg
  • Journal Article


  • Authors: Ebrahim, Muhammed-Shahid; Hudson, Robert; Iqbal, Abdullah; Mohd Rasid, Mohamed Eskandar Shah (2016)

  • This paper contradicts the existence of a universal value anomaly by studying Malaysia, a country with a unique institutional setting. We investigate this counter-example to attribute the anomaly to: 1) the leverage effect of value firms; 2) the investment pattern of growth firms; 3) the economic environment. We find that the value premium cannot be ascribed solely to risk as it is time varying and dependent on the attributes of the companies. Our results illustrate that small cap value firms perform relatively well during favourable economic conditions. In contrast, large cap growth firms perform better than their counterparts (i.e., large cap value firms) in economic upturns as they...

  • dispelling_the_myth_of_a_value_premium_contrary_evidence_of_malaysian_crony_capitalism_mohamed_eskandar.pdf.jpg
  • Academic Presentation


  • Authors: Mohd Rasid, Mohamed Eskandar Shah (2016)

  • This study aims to dispel the myth of the value anomaly by employing the logic of the well-known Austrian British philosopher Sir Karl Raimund Popper, who espoused that positive outcomes of empirical observation cannot confirm an anomaly, such as value premium (Popper, 1953).

  • 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...

  • item.jpg
  • Master


  • Authors: Othman, Arshad Nuval (2015)

  • The paper explores the economic and security dependence of an entity on others as reasons for the inability to implement military intervention by applying forecast error variance decomposition (FEVD) on economic and security data. Specifically, the paper evaluates the economic and security dependence of the Organization for Islamic Cooperation (OIC) on the United Nations (UN) Security Council to understand OIC's inability to initiate military intervention in OIC member countries ... Available in physical copy only (Call Number: t HB 126.4 A781)

  • 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.

  • item.jpg
  • Master


  • Authors: Nasir, Abdal (2015)

  • This paper examines the long run relationship between Vietnam stock market and her ASEAN partners like Malaysia, Singapore, Thailand, Indonesia and the Philippines. The paper uses the weekly data from July 2006 till February 2014 and run through an analyzed using time series techniques in order to test for cointegration of Vietnam stock market with ASEAN members. Eagle-Granger, Johansen-Jeselius (JJ), and Vector Error Correction Model (VECM) methods are used in analyzing data. The results obtained from JJ test find at most one cointegration among ASEAN members ... Available in physical copy only (Call Number: t HG 5740.8 A135)

  • item.jpg
  • Master


  • Authors: Quadri, Syed Adnan (2015)

  • This paper investigates the target capital structure adjustment by Malaysia and Singapore, with a view to determine whether they exhibit similar behaviour. Firms may temporarily diverge from their target capital structure but seek to return optimal capital structure when indications of crisis are seen as well as in the aftermath of a crisis. Firms which are not on their optimum capital structure face high detrimental costs for being in such a position ... Available in physical copy only (Call Number: t HG 4026 Q1)

  • dynamic_capital_structure_financial_crisis_eskandar_2015.pdf.jpg
  • Industry Article


  • Authors: Syed Quadri, Syed Adnan; Mohd Rasid, Mohamed Eskandar Shah (2015-06-26)

  • In presence of the market frictions, firms aim to attain target capital structure by making strategic choices towards re-engineering the leverage. These choices influence not only firm’s investment patterns, capital costs and expected returns but also lead to conflict of interest among the stakeholders. The dynamic market forces make targeting a continuous exercise for the firm, as it strives to make optimal financing decisions to raise its value and reduce the risk of bankruptcy. An occurrence of acute financial crisis disturbs the capital structure and firms may foresee this and try to adjust. If adjustment is seen prior to a crisis in favour of higher leverage and moving away from ...

  • dynamic_capital_structure_political_patronage_case_Malaysia_eskandar.pdf.jpg
  • Journal Article


  • Authors: Ebrahim, Muhammed-Shahid; Girmab, Sourafel; Mohd Rasid, Mohamed Eskandar Shah; William, Jonathan (2014)

  • This paper investigates the effect of political patronage on firms' capital structure. The evidence is from Malaysia, a country characterised by relationship-capitalism, and covers 1988 to 2009. Using a system GMM estimator we find firms set leverage targets and adjust towards them following deviations at the rate of 28% per annum. Next, we construct a natural experiment and use a difference-in-differences model to investigate if the strategic financing decisions of politically patronised firms differ from non-connected firms after an exogenous shock caused by the 1997 Asian crisis. Our results unambiguously demonstrate a significant difference in the capital structure of patronised f...

  • item.jpg
  • Master


  • Authors: Javaid, Muhammad Usman (2016)

  • Income inequality isn't new thing, but recently it has made it presence in news, political discussions etc. It has now become the key and defining challenge of our time. Both the developed and developing countries have reported massive amount of income disparities within their respected countries. In this paper we study the links and effects of the macroeconomic variables especially economic development and financial development on income inequality. We restrict our study to OIC countries. Simon Kuznet hypothesis is taken as the theoretical basis for this study ... Kindly email to kmc@inceif.org to access the item.

  • efficiency_commercial_banks_Malaysia_azmi_abdul_rahim_rosylin_shabri_eskandar.pdf.jpg
  • Journal Article


  • Authors: Omar, Mohd. Azmi; Abdul Rahman, Abdul Rahim; Mohd. Yusuf, Rosylin; Abd. Majid, M. Shabri; Mohd Rasid, Mohamed Eskandar Shah (2006)

  • This study investigates the change in the productivity of banking industry during the period of 2000 to 2004. The data consists of a panel of 11 commercial banks in Malaysia namely Malayan Banking, Bumiputra-Commerce, Public Bank, RHB Bank, Hong Leong Berhad, EON Bank, Affin Bank, Southern Bank Berhad, Bank Islam Malaysia Berhad (BIMB), Ambank and Bank Muamalat. Productivity is measured by the Malmquist index, using a Data Envelopment Analysis (DEA) technique. The Malmquist productivity measures are decomposed into two components: efficiency change and technical change index. Efficiency change is again decomposed into pure efficiency and scale efficiency. Overall, the results show tha...

  • 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.

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • 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 ...