Abstract
The purpose of this paper is to analyze whether investors perceive the issuance of sukuk differently than they do in case of conventional bonds, by using an event study with superior data. Then, it analyzes whether financial characteristics of issuers can explain the abnormal return and likelihood of sukuk issuance. Finally, the paper proposes a testable model explaining the investor reaction.
Type
Publication
Managerial Finance
Blake Rayfield
Assistant Professor of Finance
Blake Rayfield, PhD, is an Assistant Professor of Finance at the University of North Florida and a Fulbright Specialist. His research focuses on Financial Technology, Corporate Finance, and Investments.