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All Outputs (101)

Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System (2024)
Journal Article
Elsayed, A. H., Asutay, M., ElAlaoui, A. O., & Bin Jusoh, H. (2024). Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System. Research in International Business and Finance, 71, Article 102473. https://doi.org/10.1016/j.ribaf.2024.102473

This paper investigates dynamic returns and volatility spillovers between spot and futures markets in a dual financial system. It further analyses the shock transmission of both volume trading and open interest in the futures market. Empirical result... Read More about Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System.

Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development (2024)
Journal Article
Avdukic, A., & Asutay, M. (2024). Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development. Economic Systems, https://doi.org/10.1016/j.ecosys.2024.101229

Redistributive justice and stakeholder development have been central objectives of the Islamic moral economy for which Islamic banking was considered a facilitatory operational tool. Being its institutional form, the emergence of Islamic finance is,... Read More about Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development.

The Impact of Islamic Worldview on Shaping the Accounting System: An Islamic Moral Economy and Historical Exploration in Rationalising Islamic Accounting (2023)
Book Chapter
Aleraig, M. A., & Asutay, M. (2023). The Impact of Islamic Worldview on Shaping the Accounting System: An Islamic Moral Economy and Historical Exploration in Rationalising Islamic Accounting. In K. Hussainey, & H. A. Lawati (Eds.), Islamic Accounting and Finance: A Handbook. World Scientific Publishing. https://doi.org/10.1142/q0366

Examining the Impact of Intellectual Capital Performance on Financial Performance in Islamic Banks (2023)
Journal Article
Asutay, M., & Ubaidillah. (2023). Examining the Impact of Intellectual Capital Performance on Financial Performance in Islamic Banks. Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-023-01114-1

This study explores the intellectual capital (IC) performance of Islamic banks (IBs) and examines the impact of intellectual capital on financial performance in terms of profitability and productivity in IBs. The IC features are also examined individ... Read More about Examining the Impact of Intellectual Capital Performance on Financial Performance in Islamic Banks.

Religiosity and Charitable Giving on Investors’ Trading Behaviour in the Indonesian Islamic Stock Market: Islamic vs Market Logic (2023)
Journal Article
Asutay, M., Aziz, P. F., Indrastromo, B. S., & Karbhari, Y. (2023). Religiosity and Charitable Giving on Investors’ Trading Behaviour in the Indonesian Islamic Stock Market: Islamic vs Market Logic. Journal of Business Ethics, 188(2), 327-348. https://doi.org/10.1007/s10551-023-05324-0

This study examines retail investors’ trading behaviour and its determinants in the Indonesian Shari’ah stock market by mainly focusing on the religious practice-related factors in the form of sadaqah or charitable giving on individual investors’ tra... Read More about Religiosity and Charitable Giving on Investors’ Trading Behaviour in the Indonesian Islamic Stock Market: Islamic vs Market Logic.

The Impact of Intellectual Capital Formation and Knowledge Economy on Banking Performance: A Case Study of GCC's Conventional and Islamic Banks (2022)
Journal Article
Akkas, E., & Asutay, M. (online). The Impact of Intellectual Capital Formation and Knowledge Economy on Banking Performance: A Case Study of GCC's Conventional and Islamic Banks. Journal of Financial Reporting and Accounting, https://doi.org/10.1108/jfra-08-2021-0251

Purpose: This paper aims to evaluate the impact of intellectual capital in terms of human capital, structural capital, and capital employed on the financial performance of Islamic and conventional banks in the GCC countries. Design/methodology/approa... Read More about The Impact of Intellectual Capital Formation and Knowledge Economy on Banking Performance: A Case Study of GCC's Conventional and Islamic Banks.

Intellectual Capital Disclosure and Financial Performance Nexus in Islamic and Conventional Banks in the GCC Countries (2022)
Journal Article
Akkas, E., & Asutay, M. (2022). Intellectual Capital Disclosure and Financial Performance Nexus in Islamic and Conventional Banks in the GCC Countries. International Journal of Islamic and Middle Eastern Finance and Management, 15(5), 943-966. https://doi.org/10.1108/imefm-01-2021-0015

Purpose: This paper aims to comparatively examine the impact of the intellectual capital performance on the financial performance of Islamic and conventional banks in the GCC countries by classifying intellectual capital as human capital, knowledge c... Read More about Intellectual Capital Disclosure and Financial Performance Nexus in Islamic and Conventional Banks in the GCC Countries.

Examining the Performance of Islamic and Conventional Stock Indices: A Comparative Analysis (2021)
Journal Article
Asutay, M., Wang, Y., & Alija, A. (2022). Examining the Performance of Islamic and Conventional Stock Indices: A Comparative Analysis. Asia-Pacific Financial Markets, 29(2), 327-355. https://doi.org/10.1007/s10690-021-09351-7

Islamic indices encompass different fundamental principles to those held by conventional ones, which directs attention onto comparative financial performance. This paper offers a comprehensive performance comparison between Islamic indices and conven... Read More about Examining the Performance of Islamic and Conventional Stock Indices: A Comparative Analysis.

Financial Inclusion and Economic Well-Being: Evidence from Islamic Pawnbroking (Ar-Rahn) in Malaysia (2021)
Journal Article
Abdul, R., Azila, B., & Asutay, M. (2022). Financial Inclusion and Economic Well-Being: Evidence from Islamic Pawnbroking (Ar-Rahn) in Malaysia. Research in International Business and Finance, 59, Article 101557. https://doi.org/10.1016/j.ribaf.2021.101557

This study examines the impact of financial inclusion through Islamic pawnbroking, or ar-rahn financing facilities, on the economic well-being of ar-rahn clients in Malaysia. The data set consists of primary data assembled through questionnaire surve... Read More about Financial Inclusion and Economic Well-Being: Evidence from Islamic Pawnbroking (Ar-Rahn) in Malaysia.

The Impact of Islamic Spirituality on Job Satisfaction and Organisational Commitment: Exploring Mediation and Moderation Impact (2021)
Journal Article
Asutay, M., Buana, G., & Avdukic, A. (2022). The Impact of Islamic Spirituality on Job Satisfaction and Organisational Commitment: Exploring Mediation and Moderation Impact. Journal of Business Ethics, 181(4), 913-932. https://doi.org/10.1007/s10551-021-04940-y

Research into spirituality and its impact on the work environment has been bourgeoning. In an attempt to explore the role of Islamic spirituality in the workplace, this study examines the influence of Islamic spirituality on job satisfaction and orga... Read More about The Impact of Islamic Spirituality on Job Satisfaction and Organisational Commitment: Exploring Mediation and Moderation Impact.

Exploring the Corporate Governance and Risk Management Disclosure Performance Nexus in Islamic Banks: An Empirical Analysis (2021)
Book Chapter
Abdullah, H., & Asutay, M. (2021). Exploring the Corporate Governance and Risk Management Disclosure Performance Nexus in Islamic Banks: An Empirical Analysis. In T. Azid, M. Mukhlisin, N. Akbar, & M. Tahir (Eds.), Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview (201-232). Emerald. https://doi.org/10.1108/978-1-80043-786-920211012

Rethinking Ḥalāl: Hegemony, Agency and Process (2021)
Book Chapter
Sencal, H., & Asutay, M. (2021). Rethinking Ḥalāl: Hegemony, Agency and Process. In A. U. Yakin, & L. Christians (Eds.), Rethinking Halal: Genealogy, Current Trends, and New Interpretations (25-55). Brill Academic Publishers. https://doi.org/10.1163/9789004459236_003

This study critically explores the hegemony of the capitalist market system in the product development process and everyday operations of Islamic financial institutions (IFIs). The hegemony of the capitalist market system is revealed through its infl... Read More about Rethinking Ḥalāl: Hegemony, Agency and Process.

Constituting an Islamic Social Welfare Function: An Exploration through Islamic Moral Economy (2021)
Journal Article
Asutay, M., & Yilmaz, I. (2021). Constituting an Islamic Social Welfare Function: An Exploration through Islamic Moral Economy. International Journal of Islamic and Middle Eastern Finance and Management, 14(3), 524-540. https://doi.org/10.1108/imefm-03-2019-0130

Purpose – This study aims to theoretically explore and examine the possibility of developing an Islamic social welfare function (ISWF) within the Islamic moral economy (IME) frame by going beyond the traditional fiqhī approach. It focuses on issues o... Read More about Constituting an Islamic Social Welfare Function: An Exploration through Islamic Moral Economy.

Ethical Disclosure in the Shari’ah Annual Reports of Islamic Banks: Discourse on Shari’ah Governance, Quantitative Empirics and Qualitative Analysis (2020)
Journal Article
Sencal, H., & Asutay, M. (2021). Ethical Disclosure in the Shari’ah Annual Reports of Islamic Banks: Discourse on Shari’ah Governance, Quantitative Empirics and Qualitative Analysis. Corporate Governance, 21(1), 175-211. https://doi.org/10.1108/cg-01-2020-0037

Purpose As an essential component of Islamic governance for ensuring religious compliance, Shari’ah annual reports (SARs) play an important role in providing communication between Shari’ah board (SB) members and stakeholders. This paper aims to deter... Read More about Ethical Disclosure in the Shari’ah Annual Reports of Islamic Banks: Discourse on Shari’ah Governance, Quantitative Empirics and Qualitative Analysis.

Combining Islamic Equity Portfolios and Digital Currencies: Evidence from Portfolio Diversification (2020)
Book Chapter
El Alaoui, A. O., Dchieche, A., & Asutay, M. (2021). Combining Islamic Equity Portfolios and Digital Currencies: Evidence from Portfolio Diversification. In N. Alam, & S. Nazim Ali (Eds.), Fintech, digital Currency and the future of Islamic finance. Palgrave Macmillan. https://doi.org/10.1007/978-3-030-49248-9_3

Digital currencies are unregulated and potentially have a destabilizing effect coupled with increased concerns over capital gains and losses in a high volatility environment. When added to a portfolio, this currency may have certain driving factors i... Read More about Combining Islamic Equity Portfolios and Digital Currencies: Evidence from Portfolio Diversification.

Risk Management and Corporate Governance Failures in Islamic Banks: A Case Study (2020)
Journal Article
Alhammadi, S., Archer, S., & Asutay, M. (2020). Risk Management and Corporate Governance Failures in Islamic Banks: A Case Study. Journal of Islamic Accounting and Business Research, 11(9), 1921-1939. https://doi.org/10.1108/jiabr-03-2020-0064

Purpose: The purpose of this paper is to show how the choice and ongoing evaluation of a firm’s business model, as a matter of strategic guidance, are key aspects of corporate governance (CG), with particular reference to risk management (RM) in Isla... Read More about Risk Management and Corporate Governance Failures in Islamic Banks: A Case Study.