Citation
Mohd Ashhari, Zariyawati and Loo, Sin Chun and Md Nassir, Annuar
(2009)
Conventional vs Islamic bonds announcements: the effects on shareholders' wealth.
International Journal of Business and Management, 4 (6).
pp. 105-111.
ISSN 1833-3850; ESSN: 1833-8119
Abstract
In this study the impact of Islamic bond and conventional bonds announcement on shareholder wealth was investigated. Data was employed from firms that listed in Bursa Malaysia for the period 2001 to 2006. A standard event study methodology with beta refinement using Blume’s method is employed to achieve the objective. The results indicate that there is a wealth effect by the announcement of Islamic bond issues. This is consistent with Mikkelson and Partch (1986) that states certain types of debts lead to abnormal return. The bond offering size appears to have a mild negative impact on the cumulative abnormal return.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | Faculty of Economics and Management |
| DOI Number: | https://doi.org/10.5539/ijbm.v4n6p105 |
| Publisher: | Canadian Center of Science and Education |
| Keywords: | Conventional bond; Islamic bond; Abnormal return; Blume's method |
| Depositing User: | Nabilah Mustapa |
| Date Deposited: | 14 Aug 2018 08:33 |
| Last Modified: | 14 Aug 2018 08:33 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.5539/ijbm.v4n6p105 |
| URI: | http://psasir.upm.edu.my/id/eprint/13790 |
| Statistic Details: | View Download Statistic |
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