The University of Southampton
University of Southampton Institutional Repository

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

The role of the stock market in the provision of Islamic development finance: evidence from Sudan
The role of the stock market in the provision of Islamic development finance: evidence from Sudan
This 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.
Academy of International Business
Hearn, Bruce
45dccea3-9631-4e5e-914c-385896674dc2
Hearn, Bruce
45dccea3-9631-4e5e-914c-385896674dc2

Hearn, Bruce (2010) The role of the stock market in the provision of Islamic development finance: evidence from Sudan. In Academy of International Business Annual Meeting, Rio de Janeiro, Brazil. Academy of International Business. 31 pp .

Record type: Conference or Workshop Item (Paper)

Abstract

This 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.

Text
SUDAN SE PAPER - Accepted Manuscript
Download (286kB)

More information

Published date: 30 June 2010
Venue - Dates: Academy of International Business Annual Meeting, , Rio de Janeiro, Brazil, 2010-06-28 - 2010-07-02

Identifiers

Local EPrints ID: 423405
URI: http://eprints.soton.ac.uk/id/eprint/423405
PURE UUID: 3c0b0ec8-aeab-4712-8b36-b29e0ce72c8a
ORCID for Bruce Hearn: ORCID iD orcid.org/0000-0001-9767-0198

Catalogue record

Date deposited: 21 Sep 2018 16:30
Last modified: 16 Mar 2024 04:37

Export record

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×