Call for Papers:'Islamic Finance and Business' special issue

  • Institution International Journal of Emerging Markets
  • Event Type Call for Paper
  • Date April 01, 2017 - December 15, 2017
  • Location online
  • Details

    Traditionally confined to Islamic emerging market countries, Islamic Finance has now become a global phenomenon due in large part because it is perceived as less risky than the conventional finance – especially during crises. The Islamic Financial services industry has grown significantly over the last 10 years, reaching a value of more than $1.88 trillion by 2015. Despite this exponential growth, research and understanding of Islamic Finance is still in its infancy, with recent work comparing Islamic and conventional banks yielding inconclusive evidence in terms of superior efficiency, stability, and riskiness. Shariah compliant financial products (e.g., Islamic mutual funds) have been investigated before the financial crises of 2008-2010 focusing on risk/return features and comparison with conventional ones with mixed results. We have similar studies comparing Islamic and conventional stock indices’ performance, but again the existing literature is not unanimous in finding a loss of diversification in Islamic indices affecting overall performance. Most recently, papers have begun to assess sukuk characteristics, the stock market reaction to their issuance and their co-movements with Shariah and conventional stocks, but little is known about their performance, risk/return profile and their relationship with conventional bonds. Finally, there are almost no studies comparing Islamic and conventional stock exchange structures, governance and profitability and very little is known about takaful or the role/impact of Shariah boards in Islamic financial institutions. Therefore, in this issue, we will accept original papers that investigate new topics such as sukuk, Islamic mutual funds, Islamic stock exchanges, and takaful. We are also interested in Islamic banking papers, but only if they provide new perspectives on risks/opportunities or new regulatory issues that are not yet well covered by previous literature.

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