Mehmet Asutay

Mehmet Asutay
Durham University | DU · Department of Economics and Finance

About

120
Publications
69,915
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1,878
Citations
Citations since 2016
67 Research Items
1597 Citations
20162017201820192020202120220100200300
20162017201820192020202120220100200300
20162017201820192020202120220100200300
20162017201820192020202120220100200300

Publications

Publications (120)
Article
Purpose This paper aims to evaluate the impact of intellectual capital in terms of human capital, structural capital and capital employed on the financial performance of Islamic and conventional banks in the Gulf Cooperation Council (GCC) countries. Design/methodology/approach Along with the measurement discussion, the empirical analysis examines...
Article
Purpose This paper aims to comparatively examine the impact of the intellectual capital performance on the financial performance of Islamic and conventional banks in the Gulf Cooperation Council (GCC) countries by classifying intellectual capital as human capital, knowledge creation and innovation processes. Design/methodology/approach Along with...
Book
Full-text available
This research aimed at examining the Islamic banking and finance responses to the emerging financial needs of MSMEs in country cases studies (Indonesia, Jordan, Kuwait, Senegal and Russia). Considering that emergence of the Islamic economics movement focused on constituting Islamic development process (Chapra, 1993, 2000; Ahmad, 1979, 1994; Naqvi,...
Article
Full-text available
Islamic indices encompass different fundamental principles to those held by conventional ones, which directs attention onto comparative financial performance. This paper offers a comprehensive performance comparison between Islamic indices and conventional indices, based on four main markets: worldwide, the US, Europe and Asia–Pacific for the perio...
Article
Full-text available
Research into spirituality and its impact on the work environment has been bourgeoning. In an attempt to explore the role of Islamic spirituality in the workplace, this study examines the influence of Islamic spirituality on job satisfaction and organisational commitment through work ethics. Data are obtained by an online Likert-scaled questionnair...
Article
This study examines the impact of financial inclusion by means of Islamic pawnbroking or ar-rahn financing facility on improving the economic wellbeing of the clients in Malaysia. The data set, consisting of primary data assembled through questionnaire surveys conducted in 2010 and 2016, which were analysed by employing structural equation modellin...
Article
Full-text available
This study utilises higher objectives postulated in Islamic moral economy or the maqasid al-Shari’ah theoretical framework’s novel approach in evaluating the ethical, social, environmental and financial performance of Islamic banks. Maqasid al-Shari’ah is interpreted as achieving social good as a consequence in addition to well-being and, hence, it...
Article
Purpose This study aims to theoretically explore and examine the possibility of developing an Islamic social welfare function (ISWF) within the Islamic moral economy (IME) frame by going beyond the traditional fiqhī approach. It focuses on issues of preference ordering and utility through the normative dimension of Islamic ontology, as expressed an...
Chapter
Digital currencies are unregulated and potentially have a destabilizing effect coupled with increased concerns over capital gains and losses in a high volatility environment. When added to a portfolio, this currency may have certain driving factors in terms of return and risks in the case of portfolio diversification. In this study, from the Sharia...
Article
Purpose As an essential component of Islamic governance for ensuring religious compliance, Shari’ah annual reports (SARs) play an important role in providing communication between Shari’ah board (SB) members and stakeholders. This paper aims to determine the ethical disclosure in SARs to identify how close the Shari’ah disclosure to the standards s...
Article
Purpose The purpose of this paper is to show how the choice and ongoing evaluation of a firm’s business model, as a matter of strategic guidance, are key aspects of corporate governance (CG), with particular reference to risk management (RM) in Islamic banks. Design/methodology/approach This research uses a case study approach, with a single case,...
Article
Purpose This study examines the impact of the regulatory and supervisory environment on the risk-taking behaviour of Islamic banks. The impact of the heterogeneous nature of the banking environment in the sampled countries is also considered. Design/methodology/approach A dynamic panel data analysis with system GMM estimators was used with a sampl...
Article
Purpose The global financial crisis of 2008 still has an impact on the financial systems around the world, for which funding liquidity has been mentioned as one of the main concerns during that period. This study aims to consider the impact of and extent to which the funding structure of Islamic banks along with deposit structure, macroeconomic var...
Article
Full-text available
This article explores the political economy of Islamic banking by examining the impact of political regime types, institutional environment, government and political risk on the development of Islamic banking proxied by financing or loan growth in the case of 16 Muslims majority countries with autocratic and democratic regimes over the period of 20...
Article
Full-text available
Purpose Most empirical studies on the government expenditure-economic growth nexus suggest a negative relationship between the size of the government expenditures and economic growth especially government consumption expenditures. Given these findings, the government should focus on development expenditures and reduce non-development expenditures f...
Article
This study aims to explore and examine the liquidity risk that Islamic banks are exposed to in a comparison with conventional and hybrid banks in the case of 145 commercial banks for the period of 1996–2015. This study also examines the factors determining the liquidity risk exposure of the sampled banks by employing a panel data regression model w...
Article
This study investigates the causal relationship between public and private investments from 1960 to 2015 in the GCC countries (i.e., Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) which are known as hydrocarbon-based rentier states striving significant policy changes to diversify their economies. This research shows that...
Chapter
This chapter defines what differentiates Islamic financial institutions (IFIs) in terms of their risk profiles, and highlights the potential implications that such differences may make to IFIs' financial strength and risk identification, management and mitigation. It attempts to answer the long‐debated question of whether Islamic banking is less or...
Chapter
The literature review and the examination of other studies about risk management in Islamic banking have shaped the research methodologies. This chapter discusses the research methods employed in this research, and presents the appropriate analytical tools utilised. It also discusses research design and methodologies, and explores the advantages an...
Chapter
This chapter focuses on the qualitative analysis of data assembled through individual in‐depth interviews with Islamic banking professionals. In analysing the data, focused coding technique is used. The objective is to explore the responses of the interviewees in relation to risk practices as conducted in their financial institutions and banks. It...
Chapter
This final chapter summarises the main results and presents the conclusion of the book. The book introduces the main research questions and states the research aim and objectives as well as explaining the rationale for choosing the research topic. It also briefly discusses the research hypotheses, and the selected research methodology. The book cov...
Chapter
This chapter is based on the results of the conceptual aspects of the research that were gained from the literature review and from data collected and analysed in order to investigate risk management issues in Islamic banking. For the purpose of clarity and to provide a more clearly structured approach to discussion, the flow of the chapter corresp...
Chapter
This chapter summarises the descriptive findings from the collected primary data in terms of providing a quantitative analysis of respondents' answers to the self‐administrated questionnaire. It begins by providing a descriptive analysis of the general characteristics of the respondents. Cross‐tabulation and descriptive statistics are used to provi...
Chapter
Full-text available
In order to understand the risks that Islamic banks face, this chapter first discusses the nature of Islamic banking. It also provides a brief introduction to Islamic banking and its basic contracts, defines default in Islamic finance, and distinguishes the elements of an Islamic bank's risk profile that need to be evaluated differently as compared...
Conference Paper
One of the major current concerns of real economy is the negative impact of the debt on the stability of financial markets. This paper makes an attempt to investigate the relationship between firm’s leverage, and risk-return profile viewed from an Islamic finance perspective based on the Mean-Variance Efficient Frontier (MVEF) concept. The latter i...
Article
Purpose This research analyses the online disclosure practices of halal-friendly hotels, denoting their service provision within “halal” expectancies. This study aims to discover the halal attributes commonly used in the online marketing practices of halal-friendly hotels. Design/methodology/approach The methods used in this study include a deduct...
Chapter
This chapter aims to explore and examine the extent of Islamic corporate governance practices in 35 Islamic Financial Institutions (IFIs) in Malaysia, Gulf Cooperation Council countries and the United Kingdom, particularly in its six major areas, namely approaches to Islamic governance, regulatory framework and internal policies, roles and function...
Article
This article aims to explore the sources of the observed transformation in the embeddedness of economic, business, and financial practices of Muslim individuals in comparison to premodern period Muslims. It argues that the predomination of instrumental reasoning in modern times, as opposed to substantive morality in everyday practice, is one of the...
Article
The purpose of this paper is to empirically investigate expectations of corporate social responsibility (CSR) among Islamic banks. This paper unravels the fundamental objectives of CSR and their relevance to Islamic moral economy. In addition, this paper aims to contest the accusations of social failures of Islamic banks by previous researches. In...
Article
Full-text available
This paper examines the relationship between corporate social responsibility (CSR) and financial performance for Islamic banks in the Gulf Cooperation Council (GCC) region over the period 2000–2014 by generating CSR-related data through disclosure analysis of the annual reports of the sampled banks. The findings of this study indicate that there is...
Article
Full-text available
This interview discusses the nature and moral economy features of Islamic finance and presents some reflections on the development of Islamic finance in Turkey. (Turkish interview)-Katilim Finans, 2018, Vol. 2, No. 8, pp. 44-47
Article
This study embodies a preliminary endeavour at analysing the impact of leverage on portfolio behaviour, with specific reference to return and volatility, in the European stock markets, using the debt ratio as one of the important benchmarks for Islamic stock screening. Given the focus of Islamic stock screening on the debt ratio, we use data from 3...
Conference Paper
Full-text available
Digital currencies are unregulated and potentially have a destabilizing effects coupled with increased concerns over capital gains and losses in a high volatility environment. When added to a portfolio, this currency may have a certain driving factors in terms of return and risks in the case of portfolio diversification. In this study, from the Sha...
Article
Full-text available
It is increasingly becoming important to predict the performance of Islamic banks in order to anticipate a problem before it materializes and negatively affects banks’ performance and financial standing. Benefiting from the earlier research on the subject, this study aims to develop a preliminary integrated early warning model for Islamic banks in...
Article
Purpose This paper aims to provide an empirical evidence on the fund flows-past return performance relationship by also considering the management expense ratio, the portfolio turnover, the fund size and the fund age of Islamic equity funds (IEF) investors in comparison with conventional equity funds (CEF) investors. Design/methodology/approach...
Article
Full-text available
Falsification of documents does not only happen in civil courts. Shariah courts also face the same problems despite being ‘religiously’-oriented courts. It can be argued that, in the case of Malaysia, civil courts have clearer guidelines regarding the authentication of documents compared to Shariah courts. This study utilised a questionnaire survey...
Article
This paper aims to measure the degree of international financial and economic integration through sukuk markets among the eight sukuk issuing countries for the period of 2004–2014. In empirically modelling the study, the ‘standard perfect financial integration indicators’ (SPFII) developed by Arribas et al. (2011) are utilised. In doing so, the deg...
Article
Full-text available
The focus of the stakeholder theory either via the descriptive, the normative or instrumental is articulated in two main attributes namely the purpose of the firm and the responsibility of the management to the large group of stakeholders. While claiming that the Stakeholder management theory is superior to the Shareholders model, the Stakeholder t...
Article
This paper investigates the bank-level and country-level factors determining nonperforming loans (NPL) in the commercial banking industry of Gulf Cooperation Council (GCC) countries. Specifically; it examines the impact of the sectoral distribution financing growth and Islamic finance methods growth on NPL. To do so, we apply generalized method of...
Article
This study investigates the determining factors of international corporate sukuk pricing in the primary market for the period of 2004–2015. We present novel evidence for a unique data set covering all 63 international corporate sukuk issuances consisting of both a fixed margin rating as well a credit rating score. Our cross-sectional analysis indic...
Article
Full-text available
The impact of leverage on financial market stability and the relationship with the real economy is a key concern among researchers. This paper makes an initial attempt to investigate the relationship between a firm’s leverage, return and share price volatility from an Islamic finance perspective and capital structure theory. A multi-country dynamic...
Article
Full-text available
The impact of leverage on financial market stability and the relationship with the real economy is a key concern among researchers. This paper makes an initial attempt to investigate the relationship between a firm’s leverage, return and share price volatility from an Islamic finance perspective and capital structure theory. A multi-country dynamic...
Article
Full-text available
The impact of leverage on financial market stability and the relationship with the real economy is a key concern among researchers. This paper makes an initial attempt to investigate the relationship between a firm’s leverage, return and share price volatility from an Islamic finance perspective and capital structure theory. A multi-country dynamic...
Article
Falsification of documents does not only happen in civil courts. Shariah courts also face the same problems despite being 'religiously'-oriented courts. It can be argued that, in the case of Malaysia, civil courts have clearer guidelines regarding the authentication of documents compared to Shariah courts. This study utilised a questionnaire survey...
Article
This manuscript HAS BEEN RETRACTED on the request of the author. Therefore, a reasonable effort should be made to remove all references that links to this article.
Article
This study investigates the relationship and shock transmission between firm leverage and systematic risk within the Shari’ah stock screening rules among seven European countries with a sample of 689 firms for the period from 2008 Q2 to 2013 Q1. Due to the fact that high leverage augments systematic risk and accentuates the firm’s vulnerability to...
Conference Paper
Islamic indices are a subset of global stock market securities and include securities which are free from prohibited activities and elements such as riba, maisir and gharar, haram business activities, etc. The Sharīʿah screening attempts to exclude those securities that contradict with these Sharī’ah principles. First Islamic index was established...
Article
Full-text available
The surge of interest in inter vivos transfers has sparked a debate over its motivations. However, most of the academic research has focused on developed economies; and similar to many other countries, empirical research is scarce in Malaysia too. This study, aims to unravel motives for inter vivos transfers among Malaysian Muslims. It employs logi...
Article
Full-text available
The surge of interest in inter vivos transfers has sparked a debate over its motivations. However, most of the academic research has focused on developed economies; and similar to many other countries, empirical research is scarce in Malaysia too. This study, aims to unravel motives for inter vivos transfers among Malaysian Muslims. It employs logi...
Article
Full-text available
p> Purpose - The aim of this paper is to investigate the customers’ motivation to deal with e-commerce through e-banking servicesaccording to the perceptions of their customers. Design / methodology / approach - This paper presents the initial findings with the objective of developing an efficient understanding of customers’ preferences based on t...
Article
Full-text available
Appropriation of development goals is important for the effective socioeconomic policy making. This paper presents a discursive and analytical account of the literature on maqasid al-Shari'ah and Islamic Moral Economy (IME) to draw conclusions on what goals should the policy makers prioritise for the socioeconomic development. A comprehensive Islam...
Article
Full-text available
This study examines the effect of Islamic screening criteria on Shari’ah-compliant portfolio selection and performance compared to Socially Responsible Investment (SRI) portfolio. Each portfolio constructed from 15 stocks based on FTSE 100 using data from year 1997. Mean-variance portfolio optimization is employed with some financial ratios added a...
Article
Full-text available
The energy sector unarguably play a crucial role economic growth and employment in developed countries. The changes in energy use, particulary electricity consumption, are often correlated with changes in macro economic variable such as economic development, labor market, investment. This paper aims to reveal the relationship between electricity co...
Chapter
Full-text available
Different institutions are engaged in the development efforts in Indonesia by appealing to different sectors of socioeconomic life. Among such institutions, BMT (Baitul Maal wa Tamweel) and BPRS (Shariah People Credit Bank) are the main players of the shariah micro-finance institution in Indonesia. However, these two institutions are different in n...
Article
This study is the first attempt to investigate the relationship between firm’s leverage and systematic risk for seven European countries in relation to Shari’ah (Islamic) stock screening. This paper also aims to examine the shock transmission through the systematic risk and whether less debt could bring more stability to the capital market. Using a...
Article
When regulating the financial system, the volatility phenomenon seems to emerge, practically, as a phenomenon which is intrinsic to the capital market behaviour. Theoretically, the leverage of the firms appears to be a major determinant of the volatility of prices and returns. At the same time, the leverage has also got a role at both levels: the c...