Wealth effect of sukuk issuance announcement in two markets

Ziyaad Mahomed, Mohamed Ariff () and Shamsher Mohamad

Chapter 13 in Islamic Wealth Management, 2017, pp 225-246 from Edward Elgar Publishing

Abstract: Debt issuances traditionally attracts a negative sentiment, so the corporation’s shares decline in prices around the time of the issuances. Sukuk being another form of debt, none the less, structured differently from a conventional bond, should have some effect on the shares when sukuk are issued and traded. We explore this aspect in the chapter only to find that the market appears to generally favour sukuk issues as good news, so the share prices go up. However, during the Global Financial Crisis era, sukuk issuances attracted negative sentiments.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2017
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