Do Muslim CEOs and Muslim stakeholders prefer Islamic debt financing?
Rayenda Brahmana and
Hui Wei You
Global Finance Journal, 2022, vol. 54, issue C
Abstract:
This study examines the relationship between religiosity and Islamic debt financing based on Malaysian non-financial listed firms from 2012 to 2018. We find that Muslim CEOs allocate more Islamic financing in their debt financing compared to non-Muslim CEOs, which support the upper echelons theory. However, we find that the sociological pressure from Muslim Stakeholders display no significant effect on Islamic financing. Interestingly, we further find that Islamic debt financing will incline no matter whether the Muslim population is high or low if the CEO was a Muslim. This implies that our findings support the upper echelon theory, but not the stakeholder orientation theory.
Keywords: Muslim CEO; Muslim stakeholders; Islamic debt financing (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1044028321000235
Full text for ScienceDirect subscribers only
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:glofin:v:54:y:2022:i:c:s1044028321000235
DOI: 10.1016/j.gfj.2021.100625
Access Statistics for this article
Global Finance Journal is currently edited by Manuchehr Shahrokhi
More articles in Global Finance Journal from Elsevier
Bibliographic data for series maintained by Catherine Liu ().