Browsing by Author Muhamad Sori, Zulkarnain

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  • view_practice_stock_market_reaction_sukuk_credit_rating_changes_Malaysia_zulkarnain_shamsher.pdf.jpg
  • Journal Article


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

  • Documented evidence on conventional bond markets shows negative market reaction to bond credit rating downgrade and no reaction to credit rating upgrade. Despite the fact that sukuk issuances make up more than 58.8% of the value of outstanding bonds in the country and Malaysia issues at least half of the world's sukuk and is widely recognized as a leader in the sukuk space, there is no documented evidence on the stock market reaction to sukuk credit rating changes. This study analyzed the wealth effect of sukuk credit rating changes in Malaysia using 16 sukuk upgrades and 20 sukuk downgrades for the period 2000-2014. The evidence shows negative market reaction to downgrades and positi...

Browsing by Author Muhamad Sori, Zulkarnain

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 84 to 84 of 84
  • view_practice_stock_market_reaction_sukuk_credit_rating_changes_Malaysia_zulkarnain_shamsher.pdf.jpg
  • Journal Article


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

  • Documented evidence on conventional bond markets shows negative market reaction to bond credit rating downgrade and no reaction to credit rating upgrade. Despite the fact that sukuk issuances make up more than 58.8% of the value of outstanding bonds in the country and Malaysia issues at least half of the world's sukuk and is widely recognized as a leader in the sukuk space, there is no documented evidence on the stock market reaction to sukuk credit rating changes. This study analyzed the wealth effect of sukuk credit rating changes in Malaysia using 16 sukuk upgrades and 20 sukuk downgrades for the period 2000-2014. The evidence shows negative market reaction to downgrades and positi...