Earnings management around Islamic bonds issuance

Autor:	Zairihan Abdul Halim, Norakma Abdul Majid, Suichen Xu
Rok vydání:	2020
Předmět:	Economics and Econometrics 050208 finance Religious values Earnings business.industry Bond 05 social sciences Accounting Sukuk Earnings management Issuer 0502 economics and business Securitization 050207 economics Business ethics business Finance
Zdroj:	The Quarterly Review of Economics and Finance. 77:195-205
ISSN:	1062-9769
DOI:	10.1016/j.qref.2020.03.003
Popis:	We examine whether the religious values underlying Islamic bonds influence issuers’ financial reporting behavior. Using a sample of 1316 sukuk tranches issued by publicly listed firms in Malaysia from 2001 to 2014, we find sukuk issuers overstate their earnings in the year preceding sukuk offerings, and in the year subsequent to the offering. We also examine the influence of religious values associated with the parties involved in sukuk issuance on issuers’ earnings management. Our results show that a Muslim-dominated board is associated with less earnings management, supporting the idea of Islamic business ethics.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::be7ceb4137ccd5628564162347ebf3a8 https://doi.org/10.1016/j.qref.2020.03.003 Zobrazit plný text záznamu Full Text from ScienceDirect