The relationship between financial development and energy intensity is yet to be firmly established as the literature develops, and the few empirical studies conducted provide conflicting results. While some conclude that there is a U-shaped relationship between financial development and energy intensity, others show a linear relationship between the two variables.
In view of the importance of sukuk as a dominant Islamic capital market instrument, and the enormous size of their market share within the Islamic finance industry, deliberation on their Shariah issues acquires special importance, especially in light of the controversies harboring some of them.
The aim of this paper is to critically review the position of Shariah and contemporary ijtihād on penalty provisions in financial commitments. It is also to show that some relevant
| This study examines the effect of 1096 analyst recommendation revisions on prices of Shariah-compliant and Shariah non-compliant listed securities in Bursa Malaysia over the period 2005-2016. The study finds that while stocks added-to-buy had positive abnormal returns, the stocks added-to-sell and remove-from-buy had negative abnormal returns in short- and long-term horizons. This finding shows that analysts’ recommendation revisions carry valuable information. |
| This study examines the effect of 1096 analyst recommendation revisions on prices of Shariah-compliant and Shariah non-compliant listed securities in Bursa Malaysia over the period 2005-2016. The study finds that while stocks added-to-buy had positive abnormal returns, the stocks added-to-sell and remove-from-buy had negative abnormal returns in short- and long-term horizons. This finding shows that analysts’ recommendation revisions carry valuable information. |
Shariah texts forbid deferment of both counter values in the commutative transactions. However, it is obvious that contemporary juristic opinions abide by this prohibition without appreciating its Shariah objectives. This is evident as some of these opinions unjustifiably differentiate between similar applications, or they violate the prohibition by allowing stratagems that eventually lead to having both values deferred.
| The issue of greater inequalities and social exclusion reckoned to be the result of economic growth led the World Bank to set the new goal, to end extreme poverty and promote shared prosperity. Interestingly, the approach of the contemporary solution is largely in consonance with the maqasid or objectives of the Shari’ah. |
| This study analyses the innovative performance of 5,273 companies across 64 different economic sectors and 32 different regions in Colombia. We assess the effects of education and open economy variables on the innovative performance of firms by analyzing firm, sectoral, and regional level determinants. The study takes the multilevel approach of the innovation process considering the structure and behavior of innovation systems in developing countries. |
Bitcoin, as the first decentralized cryptocurrency, pioneers the cryptocurrency markets, both in terms of market capitalization and scientific interest. In this paper, we performed a comprehensive bibliometric study of the Bitcoin-related literature. Using the Scopus database, we created a sample that comprises 4495 documents written in the 2011–2020 period.