The role of the stock market in the provision of Islamic development finance: Evidence from Sudan

Simple item page
dc.contributor.authorHearn B.
dc.contributor.authorPiesse J.
dc.contributor.authorStrange R.
dc.date.accessioned2011-10-13T16:59:39Z
dc.date.available2011-10-13T16:59:39Z
dc.date.issued2011-10-13
dc.description.abstractThis paper assesses the impact of stock exchange funding in the Shari'ya compliant Islamic economy of Sudan. Evidence suggests that while Islamic financial instruments have considerable potential in facilitating development finance through their emphasis on partnership this is better achieved by the banking system rather than the Khartoum Stock Exchange. A case study of the Sudan Telecommunications company shows that larger firms able to cross-list elsewhere are likely to choose regional markets in preference to their domestic one thus benefiting from lower costs of equity. However, governance preferences are likely to favour block shareholders following the Islamic finance partnership concept. © 2011 Elsevier B.V.
dc.description.versionArticle in Press
dc.identifier.citationEmerging Markets Review
dc.identifier.citation12
dc.identifier.citation4
dc.identifier.citationhttp://www.scopus.com/inward/record.url?eid=2-s2.0-79959448022&partnerID=40&md5=f431c61cc19b8da0b44a1dc21d7ac952
dc.identifier.issn15660141
dc.identifier.other10.1016/j.ememar.2011.04.004
dc.identifier.urihttp://hdl.handle.net/10019.1/17191
dc.titleThe role of the stock market in the provision of Islamic development finance: Evidence from Sudan
dc.typeArticle in Press
Files
Collections
Stellenbosch University - Scopus Publications