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Do financial crises alter the dynamics of corporate capital structure? Evidence from GCC countries
(
Elsevier B.V.
, 2017 , Article)
We study the impact of the 2008 financial crisis on the capital structure of GCC firms. We employ a dataset covering a 10-year period from eight sectors to investigate patterns in corporate leverage before and after the ...
Currency risk and microcredit interest rates
(
Elsevier B.V.
, 2017 , Article)
Foreign currency debt provides additional access to capital and offers funds in favorable and flexible terms to microfinance institutions (MFIs). Yet, we find that the use of foreign currency debt, on average, leads to ...
Sukuk, banking system, and financial markets: Rivals or complements?
(
Elsevier B.V.
, 2017 , Article)
Using the system GMM estimation technique, we study the effects of the financial development on Sukuk markets using a panel dataset of 11 countries from 1995 to 2015. First, we find that Sukuk and bank financing are ...