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Wealth effect of sukuk issuance announcement in two markets

In: Islamic Wealth Management

Author

Listed:
  • Ziyaad Mahomed
  • Mohamed Ariff
  • Shamsher Mohamad

Abstract

Debt issuances traditionally attracts a negative sentiment, so the corporation’s shares decline in prices around the time of the issuances. Sukuk being another form of debt, none the less, structured differently from a conventional bond, should have some effect on the shares when sukuk are issued and traded. We explore this aspect in the chapter only to find that the market appears to generally favour sukuk issues as good news, so the share prices go up. However, during the Global Financial Crisis era, sukuk issuances attracted negative sentiments.

Suggested Citation

  • Ziyaad Mahomed & Mohamed Ariff & Shamsher Mohamad, 2017. "Wealth effect of sukuk issuance announcement in two markets," Chapters, in: Mohamed Ariff & Shamsher Mohamad (ed.), Islamic Wealth Management, chapter 13, pages 225-246, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17781_13
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    Keywords

    Asian Studies; Economics and Finance;

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