Prof. Dr. Shamsher Mohamad Ramadili Mohd
Qualification:Ph.D.in Finance, University of Glasgow, Scotland, U.K. (1990)
Fields/Area of Specialization:AccountingFinance
Prof. Dr. Shamsher holds a PhD in Finance from University of Glasgow in Scotland. Prior to INCEIF, he taught Finance courses at both undergraduate and graduate level at University Putra Malaysia (UPM). He served UPM for 30 years starting as a tutor in the same faculty in 1980. In 2012, he joined INCEIF as a Professor in Finance and Accounting. His areas of interest are accounting and finance. He is currently the Director of BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management.

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Showing results 1 to 20 of 119
  • accounting_for_leasing_zulkarnain_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2018)

  • This case was developed based on a real-life experience dealing with an Islamic car financing contract (i.e. Al-ljarah Thumma Al-Bay |AITAB] contract - Sale and Leaseback) between a Malaysian Islamic Financial Institution and their customer. It is well recognised that AITAB is governed by the Malaysian Hire Purchase Act 1967, that oversees conventional (nor Islamic) car financing, yet it is used for both financing modes. The contract requires clarification on the following: understanding of the nature of the contract used and the relevant transactions involved; revenue recognition (current and future); capitalisation of relevant costs in the asset's value; fair value of leased asset; ...

  • An_overview_of_corporate_governance_some_essentials.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2012)

  • The Oxford Dictionary define 'corporate' is an adjective belonging to a corporation, while 'governance'derives from the Latin gubernare, meaning 'to steer', which implies that corporate governance involves the function of direction rather than control. Therefore, corporate governance is a function of governing a corporation.

  • item.jpg
  • Master


  • Authors: Osmanzadah, Shafiq Ullah (2015)

  • Islamic financial instruments differ from conventional instruments because of their risk sharing and justice factor. Talking specifically about fund raising instruments, Sukuks are the most vital and demanded instrument. Despite of its risk sharing and equity feature, Sukuk defaults yet happened which eventually raised several questions on the viability of these instruments and their treatment in a distressed situation that provides us with another avenue of research on these instruments. In this paper, we analysed five major Sukuk defaults that happened recently in the aftermath of the 2007 global financial crisis ...

  • announcements_effect_corporate_name_change_failed_vs_non-failed_firms_zulkarnain_et_al.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Md Nasir, Annuar; Abdul Hamid, Mohamad Ali (2002)

  • The corporate name is the identity and pride of a corporate entity. A name change is an important corporate event and done only if the benefits out weights the costs. This study attempts to investigate whether a corporate name change has a wealth effect on the company's shareholders. It investigates the wealth effects of name change announcement concurrent with announcement of reorganisation and restructuring of the firm. Event study methodology was employed to examine the above issues with respect to failed and non-failed firms for the period from 1980 to 1996 ...

  • Application_of_conventional_benchmark_in_Islamic_wealth_management_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Gadhoum, Mohamed Anouar; Ramadili Mohd, Shamsher Mohamad (2017)

  • LIBOR (London Interbank Overnight Rate) is a rather recent concept, even if English banks had been in banking business for many decades before the invention of LIBOR as the world's favorite benchmark for cost of money. LIBOR emerged in the 1980s to serve as a benchmark to account for interest rate risk when a surge in the use of futures contracts began to trouble lending decisions. Futures have been offered since 1972, and by the 1980s had become a major risk-hedging instrument in the developed countries. Due to the absence of a reliable benchmark back then, a solution was sought from the Bank of England. The banking industry trade group, the British Bankers' Association, launched LIB...

  • 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...

  • 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...

  • audit_committee_auditor_independence_bankers_perception_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Karbhari, Yusuf (2009)

  • This paper examines the perception of bankers on contribution of audit committees towards external auditor independence in public listed companies. All Malaysian public listed companies are required to establish an audit committee as a measure to improve on the internal control mechanism that can help improve the corporate governance practices of firms. Postal questionnaires and interview surveys were used to solicit the perception and views of loan officers. The majority of the respondents believe that auditor independence is preserved with the presence of an actively functioning audit committee. This implies favourably on the corporate governance

  • audit_committee_and_auditor_independence.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Abdul Wahab, Sazali (2012)

  • The efforts towards better corporate governance practices of firms in the Malaysian capital market were started by the Securities Commission (SC) as early as 1996 in three-phased shift disclosure-based regulations (DBR). During Phase 1 (1996-1999: Flexible/Hybrid Merit Based Regime), the emphasis was to regulate on disclosure, due diligence and corporate governance. Phase 2 (January 2000: Partial DBR) still focused on corporate disclosure, due diligence and corporate governance, but included focus on promotion of accountability and self-regulation. In Phase 3 (2001 onwards: Full DBR) the SC enforced high standards of disclosure, due diligence and corporate governance as well as exerci...

  • audit_committee_reporting_current_practices_companies_listed_KLSE_Zulkarnain_Shamsher.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2007)

  • This study examines the disclosures contained in Audit Committee Reports (ACRs) and the level of compliance of current practices with the amended Kuala Lumpur Stock Exchange listing requirements after the adoption of various recommendations made by the High-Level of Finance Committee on Corporate Governance and the Malaysian Code on Corporate Governance (MCCG) in 1999 and 2000 respectively. All firms listed on the KLSE's main and second board, and MESDAQ counters were sampled. Consistent with the literature in developed markets, the findings reveal that very few companies provide more than what is expected by the ACRs in their listing requirements. Further, companies in finance, techn...

  • auditor in dilemma.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Ramadili Mohd, Shamsher Mohamad; Abdul Wahab, Sazali (2013)

  • Evidence of audit failures documented worldwide have led to major criticism of the auditing professions' independence and exposed its implication on shareholders and stakeholders' interests. External auditors are expected not only be independent but more importantly must be seen to be independent when examining and attesting clients' financial statements. Auditors are expected to decide on reporting strategies without any influence from their clients' management.

  • auditor_independence_corporate_governance_zulkarnain_shamser_2015.pdf.jpg
  • Industry Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2015-09-29)

  • Failures of major financial institutions globally that have supposedly audited has led to major criticism of the auditing profession. The collapse of many large companies and the demise of one of the major auditing firm, Arthur Andersen, have damaged the credibility of financial statements and undermined the reputation of audit profession. Among the many explanations for these failures (like investors’ irrational exuberance, infectious greed, and foolishness; the bursting of the bubble; the impoverished morality of CEOs), the tendency of management to cook the books; the failure of the gatekeepers; and the ambiguities in application of financial reporting standards, which have encour...

  • banking_liquidity_and_stock_market_prices_three_countries_in_ASEAN_tin_ariff_shamsher.pdf.jpg
  • Journal Article


  • Authors: Tin-fah, Chung; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper reports evidence of a banking liquidity impact on stock prices in the three Asean countries. Banking liquidity impacts suggested by Friedman is yet to be fully investigated nor verified despite several attempts. If improved liquidity of banks leads to credit expansion, which in turn leads to more positive net present value projects undertaken by firms, earnings of the latter must go up, and hence the share prices should rise. This link is worth an investigation. According to an influential of the US stock market, up to 52% of share returns are due to changes in the macro economy. Using a 3-equation structural model as well as employing corrections for cross-section dependen...

  • board characteristics and firms financial reporting quality.pdf.jpg
  • Chapter in Book


  • Authors: Nahar, Hairul Suhaimi; Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Hassan, Taufiq (2013)

  • Post millennium period could be considered as a rejuvenation period for both issues of corporate governance and firm's financial reporting quality (FRQ) in the Asian region. Series of corporate and economic events pre and post millennium period had effectively led these intermingling issues to gain prominence in the academic and public policy debate. Primarily, academic debate has suggested that governance is an effective tool through which FRQ could be ensured (Imhoff, 2003; Rezaee, 2003).

  • capital_adequacy_lending_deposit_behaviours_conventional_islamic_banks_shamser.pdf.jpg
  • Journal Article


  • Authors: Abdul Karim, Mastura; Hassan, M. Kabir; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2014)

  • Capital adequacy plays an important role in determining banking activities. A bank must hold a minimum level of capital to ensure sufficient funds to buffer against unexpected losses or adverse shocks. This study analyzes and compares Islamic and conventional banks in 14 Organization of Islamic Conference (OIC) countries from 1999 to 2009. The empirical evidence suggests that capital requirements have a significant impact on the deposit and lending behaviors of the 52 Islamic banks (IBs) and 186 conventional banks (CBs) in the sample. There is a strong positive relationship between capital requirements and deposit and loan growth for both IBs and CBs

  • challenges_facing_shariah_committees_malaysian_islamic_financial_institutions_shamsher.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhamad 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.

  • commercialization_accounting_profession_case_non-audit_services_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Ramadili Mohd, Shamsher Mohamad (2010)

  • Over the last decade, the accounting profession has witnessed the commercialisation of audit firms through offering of non-audit services (i.e. business consultancy services) to their audit client. Regulators and stakeholders have placed a great concern on the potential threat of commercialization of audit services on perceived auditor independence. This study reports the effects of the joint provision of audit and non-audit services (NAS) and the type of NAS on perceived auditor independence. The main findings suggest that auditor independence is perceived to be compromised when audit and NAS were jointly offered by audit firms. However, when there exist proper segregation of duties ...

  • comparison_of_MASB_AAOIFI_accounting_conceptual_frameworks_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper aims to present comparison of conceptual framework published by the Malaysian Accounting Standards Board (MASB) (fully converged with the standards issued by the International Accounting Standards Board (IASB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). As the Islamic finance industry evolved, some scholars proposed that the Islamic Financial Institutions (IFIs) should have different accounting standards to serve their need to report the unique financial information needs. The research is motivated by the introduction of accounting standards by the AAOIFI to fulfill the financial reporting needs of Islamic finance industry that ...

  • chapter 2_comparison_MASB_AAOIFI_Zulkarnain_Shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2019)

  • This chapter provides new findings to accounting and finance literature, where, it compares the conceptual framework of both of the MASB- and the AAOIFI- in the context of financial reporting of Islamic financial institutions (IFls). The conceptual framework or some authors referred as "accounting constitution" set the tone for a consistent accounting standards and become a reference point for developing future standards for financial accounting and reporting (Barker et al., 2014; Abela et al., 2014; Holzmann & Munter, 2014 (Sutton et al., 2015; Gebhardt et aI., 2014; Norby, 1977; Gore & Zimmerman, 2007). In this context, more than 120 countries (including major players in Islamic fin...

  • item.jpg
  • Master


  • Authors: Gulam Rusul, Ahmad Imran (2015)

  • After the 1997 Asian financial crisis, conventional bond and sukuk have become one of the major financial instruments for private and public listed firms in Malaysia to raise capital. In order to continuously attract both foreign and domestic investors and to maintain their participation in the bond and sukuk market it is vital that the regulatory authorities continuously strengthened corporate governance practices and regulatory framework to protect and safeguard the bond and sukuk holders' interest ...

Prof. Dr. Shamsher Mohamad Ramadili Mohd
author picture
Qualification: Ph.D.in Finance, University of Glasgow, Scotland, U.K. (1990)
Fields/Area of Specialization: AccountingFinance
Prof. Dr. Shamsher holds a PhD in Finance from University of Glasgow in Scotland. Prior to INCEIF, he taught Finance courses at both undergraduate and graduate level at University Putra Malaysia (UPM). He served UPM for 30 years starting as a tutor in the same faculty in 1980. In 2012, he joined INCEIF as a Professor in Finance and Accounting. His areas of interest are accounting and finance. He is currently the Director of BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management.
Showing results 1 to 20 of 119
  • accounting_for_leasing_zulkarnain_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2018)

  • This case was developed based on a real-life experience dealing with an Islamic car financing contract (i.e. Al-ljarah Thumma Al-Bay |AITAB] contract - Sale and Leaseback) between a Malaysian Islamic Financial Institution and their customer. It is well recognised that AITAB is governed by the Malaysian Hire Purchase Act 1967, that oversees conventional (nor Islamic) car financing, yet it is used for both financing modes. The contract requires clarification on the following: understanding of the nature of the contract used and the relevant transactions involved; revenue recognition (current and future); capitalisation of relevant costs in the asset's value; fair value of leased asset; ...

  • An_overview_of_corporate_governance_some_essentials.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2012)

  • The Oxford Dictionary define 'corporate' is an adjective belonging to a corporation, while 'governance'derives from the Latin gubernare, meaning 'to steer', which implies that corporate governance involves the function of direction rather than control. Therefore, corporate governance is a function of governing a corporation.

  • item.jpg
  • Master


  • Authors: Osmanzadah, Shafiq Ullah (2015)

  • Islamic financial instruments differ from conventional instruments because of their risk sharing and justice factor. Talking specifically about fund raising instruments, Sukuks are the most vital and demanded instrument. Despite of its risk sharing and equity feature, Sukuk defaults yet happened which eventually raised several questions on the viability of these instruments and their treatment in a distressed situation that provides us with another avenue of research on these instruments. In this paper, we analysed five major Sukuk defaults that happened recently in the aftermath of the 2007 global financial crisis ...

  • announcements_effect_corporate_name_change_failed_vs_non-failed_firms_zulkarnain_et_al.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Md Nasir, Annuar; Abdul Hamid, Mohamad Ali (2002)

  • The corporate name is the identity and pride of a corporate entity. A name change is an important corporate event and done only if the benefits out weights the costs. This study attempts to investigate whether a corporate name change has a wealth effect on the company's shareholders. It investigates the wealth effects of name change announcement concurrent with announcement of reorganisation and restructuring of the firm. Event study methodology was employed to examine the above issues with respect to failed and non-failed firms for the period from 1980 to 1996 ...

  • Application_of_conventional_benchmark_in_Islamic_wealth_management_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Gadhoum, Mohamed Anouar; Ramadili Mohd, Shamsher Mohamad (2017)

  • LIBOR (London Interbank Overnight Rate) is a rather recent concept, even if English banks had been in banking business for many decades before the invention of LIBOR as the world's favorite benchmark for cost of money. LIBOR emerged in the 1980s to serve as a benchmark to account for interest rate risk when a surge in the use of futures contracts began to trouble lending decisions. Futures have been offered since 1972, and by the 1980s had become a major risk-hedging instrument in the developed countries. Due to the absence of a reliable benchmark back then, a solution was sought from the Bank of England. The banking industry trade group, the British Bankers' Association, launched LIB...

  • 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...

  • 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...

  • audit_committee_auditor_independence_bankers_perception_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Karbhari, Yusuf (2009)

  • This paper examines the perception of bankers on contribution of audit committees towards external auditor independence in public listed companies. All Malaysian public listed companies are required to establish an audit committee as a measure to improve on the internal control mechanism that can help improve the corporate governance practices of firms. Postal questionnaires and interview surveys were used to solicit the perception and views of loan officers. The majority of the respondents believe that auditor independence is preserved with the presence of an actively functioning audit committee. This implies favourably on the corporate governance

  • audit_committee_and_auditor_independence.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Abdul Wahab, Sazali (2012)

  • The efforts towards better corporate governance practices of firms in the Malaysian capital market were started by the Securities Commission (SC) as early as 1996 in three-phased shift disclosure-based regulations (DBR). During Phase 1 (1996-1999: Flexible/Hybrid Merit Based Regime), the emphasis was to regulate on disclosure, due diligence and corporate governance. Phase 2 (January 2000: Partial DBR) still focused on corporate disclosure, due diligence and corporate governance, but included focus on promotion of accountability and self-regulation. In Phase 3 (2001 onwards: Full DBR) the SC enforced high standards of disclosure, due diligence and corporate governance as well as exerci...

  • audit_committee_reporting_current_practices_companies_listed_KLSE_Zulkarnain_Shamsher.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2007)

  • This study examines the disclosures contained in Audit Committee Reports (ACRs) and the level of compliance of current practices with the amended Kuala Lumpur Stock Exchange listing requirements after the adoption of various recommendations made by the High-Level of Finance Committee on Corporate Governance and the Malaysian Code on Corporate Governance (MCCG) in 1999 and 2000 respectively. All firms listed on the KLSE's main and second board, and MESDAQ counters were sampled. Consistent with the literature in developed markets, the findings reveal that very few companies provide more than what is expected by the ACRs in their listing requirements. Further, companies in finance, techn...

  • auditor in dilemma.pdf.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Ramadili Mohd, Shamsher Mohamad; Abdul Wahab, Sazali (2013)

  • Evidence of audit failures documented worldwide have led to major criticism of the auditing professions' independence and exposed its implication on shareholders and stakeholders' interests. External auditors are expected not only be independent but more importantly must be seen to be independent when examining and attesting clients' financial statements. Auditors are expected to decide on reporting strategies without any influence from their clients' management.

  • auditor_independence_corporate_governance_zulkarnain_shamser_2015.pdf.jpg
  • Industry Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2015-09-29)

  • Failures of major financial institutions globally that have supposedly audited has led to major criticism of the auditing profession. The collapse of many large companies and the demise of one of the major auditing firm, Arthur Andersen, have damaged the credibility of financial statements and undermined the reputation of audit profession. Among the many explanations for these failures (like investors’ irrational exuberance, infectious greed, and foolishness; the bursting of the bubble; the impoverished morality of CEOs), the tendency of management to cook the books; the failure of the gatekeepers; and the ambiguities in application of financial reporting standards, which have encour...

  • banking_liquidity_and_stock_market_prices_three_countries_in_ASEAN_tin_ariff_shamsher.pdf.jpg
  • Journal Article


  • Authors: Tin-fah, Chung; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper reports evidence of a banking liquidity impact on stock prices in the three Asean countries. Banking liquidity impacts suggested by Friedman is yet to be fully investigated nor verified despite several attempts. If improved liquidity of banks leads to credit expansion, which in turn leads to more positive net present value projects undertaken by firms, earnings of the latter must go up, and hence the share prices should rise. This link is worth an investigation. According to an influential of the US stock market, up to 52% of share returns are due to changes in the macro economy. Using a 3-equation structural model as well as employing corrections for cross-section dependen...

  • board characteristics and firms financial reporting quality.pdf.jpg
  • Chapter in Book


  • Authors: Nahar, Hairul Suhaimi; Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Hassan, Taufiq (2013)

  • Post millennium period could be considered as a rejuvenation period for both issues of corporate governance and firm's financial reporting quality (FRQ) in the Asian region. Series of corporate and economic events pre and post millennium period had effectively led these intermingling issues to gain prominence in the academic and public policy debate. Primarily, academic debate has suggested that governance is an effective tool through which FRQ could be ensured (Imhoff, 2003; Rezaee, 2003).

  • capital_adequacy_lending_deposit_behaviours_conventional_islamic_banks_shamser.pdf.jpg
  • Journal Article


  • Authors: Abdul Karim, Mastura; Hassan, M. Kabir; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2014)

  • Capital adequacy plays an important role in determining banking activities. A bank must hold a minimum level of capital to ensure sufficient funds to buffer against unexpected losses or adverse shocks. This study analyzes and compares Islamic and conventional banks in 14 Organization of Islamic Conference (OIC) countries from 1999 to 2009. The empirical evidence suggests that capital requirements have a significant impact on the deposit and lending behaviors of the 52 Islamic banks (IBs) and 186 conventional banks (CBs) in the sample. There is a strong positive relationship between capital requirements and deposit and loan growth for both IBs and CBs

  • challenges_facing_shariah_committees_malaysian_islamic_financial_institutions_shamsher.pdf.jpg
  • Journal Article


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhamad 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.

  • commercialization_accounting_profession_case_non-audit_services_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Ramadili Mohd, Shamsher Mohamad (2010)

  • Over the last decade, the accounting profession has witnessed the commercialisation of audit firms through offering of non-audit services (i.e. business consultancy services) to their audit client. Regulators and stakeholders have placed a great concern on the potential threat of commercialization of audit services on perceived auditor independence. This study reports the effects of the joint provision of audit and non-audit services (NAS) and the type of NAS on perceived auditor independence. The main findings suggest that auditor independence is perceived to be compromised when audit and NAS were jointly offered by audit firms. However, when there exist proper segregation of duties ...

  • comparison_of_MASB_AAOIFI_accounting_conceptual_frameworks_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2017)

  • This paper aims to present comparison of conceptual framework published by the Malaysian Accounting Standards Board (MASB) (fully converged with the standards issued by the International Accounting Standards Board (IASB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). As the Islamic finance industry evolved, some scholars proposed that the Islamic Financial Institutions (IFIs) should have different accounting standards to serve their need to report the unique financial information needs. The research is motivated by the introduction of accounting standards by the AAOIFI to fulfill the financial reporting needs of Islamic finance industry that ...

  • chapter 2_comparison_MASB_AAOIFI_Zulkarnain_Shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2019)

  • This chapter provides new findings to accounting and finance literature, where, it compares the conceptual framework of both of the MASB- and the AAOIFI- in the context of financial reporting of Islamic financial institutions (IFls). The conceptual framework or some authors referred as "accounting constitution" set the tone for a consistent accounting standards and become a reference point for developing future standards for financial accounting and reporting (Barker et al., 2014; Abela et al., 2014; Holzmann & Munter, 2014 (Sutton et al., 2015; Gebhardt et aI., 2014; Norby, 1977; Gore & Zimmerman, 2007). In this context, more than 120 countries (including major players in Islamic fin...

  • item.jpg
  • Master


  • Authors: Gulam Rusul, Ahmad Imran (2015)

  • After the 1997 Asian financial crisis, conventional bond and sukuk have become one of the major financial instruments for private and public listed firms in Malaysia to raise capital. In order to continuously attract both foreign and domestic investors and to maintain their participation in the bond and sukuk market it is vital that the regulatory authorities continuously strengthened corporate governance practices and regulatory framework to protect and safeguard the bond and sukuk holders' interest ...