Islamic corporate financing : does it promote profit and loss sharing?

Islamic financing instruments can be categorised into profit and loss/risk sharing and non-participatory instruments. Although profit and loss sharing instruments such as musharakah are widely accepted as the ideal form of Islamic financing, prior studies suggest that alternative instruments such as murabahah are preferred by Islamic banks. Nevertheless, prior studies did not explore factors that influence the use of Islamic financing among non-financial firms. Our study fills this gap and contributes new knowledge in several ways. First, we find no evidence of widespread use of Islamic financing instruments across non-financial firms. This is because the instruments are mostly used by less profitable firms with higher leverage (i.e., risky firms). Second, we find that profit and loss sharing instruments are hardly used, whilst the use of murabahah is dominant. Consistent with the prediction of moral-hazard-risk avoidance theory, further analysis suggests that users with a lower asset base (to serve as collateral) are associated with murabahah financing. Third, we present a critical discourse on the contentious nature of murabahah as practised. The economic significance and ethical issues associated with murabahah as practised should trigger serious efforts to steer Islamic corporate financing towards risk-sharing more than the controversial rent-seeking practice.

'Death...more desirable than life'? The human skeletal record and toxicological implications of ancient copper mining and smelting in Wadi Faynan, southwestern Jordan

Grattan, J., Huxley, S., Karaki, L. A., Toland, H., Gilbertson, D., Pyatt, B., Saad, Z. A. (2002). 'Death . . . more desirable than life'? The human skeletal record and toxicological implications of ancient copper mining and smelting in Wadi Faynan, southwestern Jordan. Toxicology and Industrial Health, 18 (6), 297-307.

Corporate Responsibility for Crimes - Thinking Outside the Box

Emeseh, Engobo, 'Corporate Responsibility for Crime: Thinking outside the Box' I University of Botswana Law Journal (2005) 28-49 RAE2008

Corporations and corporate governance: what do these concepts mean for multinational corporate power and social responsibility?

International Journal of Liability and Scientific Enquiry 2007 - Vol. 1, No.1/2 pp. 29 - 49 RAE2008

Behaviour and rationality in corporate governance

Marnet, Oliver, 'Behaviour and rationality in corporate governance', Journal of Economic Issues (2005) 39(3) pp.613-632 RAE2008

History repeats itself: The failure of rational choice models in corporate governance

Marnet, Oliver, 'History repeats itself: The failure of rational choice models in corporate governance', Critical Perspectives on Accounting (2005) 18(2) pp.191-210 RAE2008

Which of the three action-oriented corporate social responsibility (CSR) types is the most effective in improving the public attitude toward tobacco companies?

Dissertação apresentada à Universidade Fernando Pessoa como parte dos requisitos para a obtenção do grau de Mestre em Ciências da Comunicação, ramo de Marketing e Publicidade

A Funeral Sermon on the death of Noah Levings

Funeral Sermon

Memorial Services on the death of Franklin J. Jilsby

Memorial Sermon.

A Sermon occasioned by the death of Mrs. Sarah R. Baker

Funeral sermon

A Sermon on the occasion of the death of Mrs. Mary Chapman Halsey

Memorial Sermon

A Collection of Memorial Addresses about the Death of James A. Garfield

Printed pamphlet of sermons presented by ministers and pastors after the death of President James A. Garfield.

Addresses on the death of the Hon. T.H.Hicks

Addresses delivered in the Senate and House of Representatives.

The Missionary pioneer, or, A brief memoir of the life, labours, and death of John Stewart, (man of colour) founder, under God of the mission among the Wyandotts at Upper Sandusky, Ohio / Published by Joseph Mitchell.

http://www.archive.org/details/missionarypionee00stewrich

A medical study on wireless inertial measurement technology as a tool for identifying patients at risk of death or imminent clinical deterioration

This paper provides a system description and preliminary results for an ongoing clinical study currently being carried out at the Mid-Western Regional Hospital, Nenagh, Ireland. The goal of the trial is to determine if wireless inertial measurement technology can be employed to identify elderly patients at risk of death or imminent clinical deterioration. The system measures cumulative movement and provides a score that will help provide a robust early warning to clinical staff of clinical deterioration. In addition the study examines some of the logistical barriers to the adoption of wearable wireless technology in front-line medical care.