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Publication Details
AFRICAN RESEARCH NEXUS
SHINING A SPOTLIGHT ON AFRICAN RESEARCH
business, management and accounting
The role of the stock market in the provision of Islamic development finance: Evidence from Sudan
Emerging Markets Review, Volume 12, No. 4, Year 2011
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Description
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. © 2011 Elsevier B.V.
Authors & Co-Authors
Hearn, Bruce Allen
United Kingdom, Leicester
University of Leicester School of Business
Piesse, Jenifer
United Kingdom, London
King's College London
South Africa, Stellenbosch
Stellenbosch University
Strange, Roger N.
United Kingdom, Brighton
University of Sussex
Statistics
Citations: 39
Authors: 3
Affiliations: 4
Identifiers
Doi:
10.1016/j.ememar.2011.04.004
ISSN:
15660141
Research Areas
Health System And Policy
Study Design
Case Study
Study Approach
Qualitative
Study Locations
Sudan