Capital Structure and Shari’ah Compliance of non-Financial Firms

In  the present financial world, various niche markets play an increasingly  important role. One of the fastest-growing niches is, without a doubt,  Islamic finance. Indeed, sustainable finance needs constantly evolving  innovations, and this book offers valuable insights into Islamic capital  structure and Shari’ah equity screening enriching academic discourse. 

"In  recent years, we have witnessed the emergence of a new generation of  academics and professionals specializing in various aspects of Islamic  finance as knowledge and practice. This has brought about a new dynamism  and also further sophistication. This book is one of such  contributions, as it develops knowledge which is then transformed into  practice whereby practical impact is also achieved. Being an academic  book, it provokes readers’ thoughts, offering a critique of the  implications of the currently applied Shari’ah screenings methodologies.  As a transformative practical piece, by developing an innovative  screening ratio, in this book, Dr. Yildirim extends his focus on the  risk-sharing based financing hierarchy, covers thoughts and the  underlying philosophy, and proposes an Islamic version of a pecking  order hierarchy. This framework can be considered the foundation for  developing an Islamic capital structure theory. This book will benefit  academics, professionals, investors, as well as policymakers working in  the Islamic finance industry and would like to explore more." (Professor  Dr. Mehmet Asutay, Durham University Business School, UK) 

"This  book offers, for the first time after the inception of Shari’ah  screening methodologies, a groundbreaking new stock screening solution  that is comprehensible, practical, and foremost entirely derived from  the primary sources of Islam (Qur’an and Sunnah). Congratulations to Dr.  Ramazan for his outstanding contribution to Islamic finance and capital  markets." (Associate Professor Dr. Ahcene Lahsasna) 

"This  excellent book is a must-have for all corporate finance  students/researchers interested in the theoretical aspect of capital  structure and the religious discussion of Shari’ah equity screening.  This book should become a companion to those involved in a quantitative  research environment and aim to conduct a comparative analysis; an ideal  resource for everyone, from Shari’ah scholars to Islamic finance  practitioners and beginners to experts." (Professor Dr. M. Kabir Hassan,  University of New Orleans, USA)