by Ramazan Yildirim
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)
