Staff Directory


Razali Bin Haron

Academic Qualification

  • Doctor of Philosophy in Business Administration (Finance) - Doctorate of Business Admin., Universiti Kebangsaan Malaysia (UKM)
  • Master of Business Administration (Finance) - Masters Degree, International Islamic University Malaysia
  • Bachelor of Business Administration (Finance) - Bachelor Degree, Universiti Teknologi MARA (UiTM)
  • Diploma in Investment Analysis - Diploma, Universiti Teknologi MARA (UiTM)

Razali Bin Haron (Assoc. Prof. Dr.)

Associate Professor
IIUM Gombak Campus

INSTITUTE OF ISLAMIC BANKING AND FINANCE

Other's position:

Deputy Dean, Institute of Islamic Banking and Finance

hrazali@iium.edu.my
4183


Expert Profile


Assoc. Prof. Dr. Razali Haron obtained his DBA from UKM in 2012, MBA (Finance) from IIUM in 2003 and BBA (Finance) from UiTM in 1994. Prior to joining IIUM in 2003, he had extensive industrial experience for almost 13 years covering the capital market, portfolio management, unit trust industry and merchant banking in Malaysia. With his vast industry experience, he has been appointed as a member of the IIUM Investment sub-Committee since 2012. His area of expertise includes the corporate finance, capital market and portfolio management and has published his research works with reputable international publishers such as the Emerald, Elsevier, Sage, Inderscience and Palgrave Macmillan. Being an active researcher, he has been awarded with - The Best Researcher Award and Best Indexed Journal Article (Department of Finance) in 2014, Highest Citation in Citation Index Journal (Social Science) at the IIUM Quality Day 2015, Top 250 Contributors to IIUM Research Performance 2015-2017, Highest Number of Publications Award (IIiBF - 2019) and Top 30 Contributors to IIUM Research Performance at the IIUM Takrim Day 2019. He was the research coordinator at the Department of Finance (2012-2014), Head Master of Management Program at the Graduate School of Management (2012 to 2014) and Deputy Dean (Research and Publication) of IIiBF (2017-2018). He has edited three research books; Islamic Fund and Wealth Management (2019-IIiBF), Banking and Finance (2020-IntechOpen, UK) and Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis (2021-IGI Global). Very recently, his co-authored paper on Bitcoin Currency has been awarded with The Highly Commended Paper in the 2020 Emerald Literati Awards. The editorial team of Emerald stated that it is one of the most exceptional pieces of work they saw throughout 2019. Dr Razali is currently the Editor-in-Chief of Journal of Islamic Finance and Associate Editor of The Capital Market Review.   


Area of Specialisation


  • Economics, Business And Management ~ Economics, Business And Management ~ Investment ~ Islamic Investment Instrument - Unit Trust Funds/Sukuk
  • Economics, Business And Management ~ Economics, Business And Management ~ Entrepreneurship ~ Small-Medium Enterprises (SME) - SME Financing
  • Unspecified ~ Economics, Business And Management ~ Investment ~Stock Market Studies - Integration
  • Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Risk Management - Portfolio Diversification/Options Pricing
  • Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Corporate Finance - Capital Structure


Professional Membership


  • 2006 - 2013: Member of Profesional Body / Association, Malaysian Finance Association
  • 2010 - 2013: Member of Profesional Body / Association, Financial Planning Association of Malaysia


Teaching Responsibilities


BUSINESS MATHEMATICS AND STATISTICS 2021/2022
CORPORATE FINANCE 2003/2004
FINANCIAL DERIVATIVES 2013/2014 2012/2013 2011/2012
FINANCIAL MANAGEMENT ANALYSIS 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016
FINANCIAL MANAGEMENT AND POLICIES 2014/2015 2013/2014 2012/2013
FINANCIAL MANAGEMENT I 2005/2006 2004/2005 2003/2004
FINANCIAL MANAGEMENT II 2003/2004
FINANCIAL STATEMENT ANALYSIS 2014/2015 2012/2013 2011/2012 2009/2010
FUTURES, OPTIONS & RISK MANAGEMENT 2017/2018 2012/2013 2011/2012 2010/2011 2009/2010
FUTURES,OPTIONS AND RISK MANAGEMENT 2013/2014 2012/2013
INTERNATIONAL FINANCE 2011/2012
INVESTMENT ANALYSIS 2017/2018 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2010/2011 2005/2006 2004/2005
ISLAMIC CAPITAL MARKET 2018/2019 2017/2018 2016/2017
ISLAMIC FINANCING MANAGEMENT 2015/2016 2014/2015 2013/2014
MANAGERIAL FINANCE 2015/2016 2014/2015
MANAGING RISK-FUTURES & OPTIONS 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012
MANAGING RISKS WITH FUTURES AND OPTIONS 2015/2016
PORTFOLIO MANAGEMENT 2021/2022 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2005/2006
PRINCIPLES OF ACCOUNTING AND FINANCE 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017
QUANTITATIVE METHODS 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019
SEMINAR IN FINANCE 2012/2013


Research Projects


Completed
2016 - 2018 Property Price Hike and Speculation
2016 - 2018 A Second Order Self-Reported Religiosity Measurement Invariance Analysis of the Psychological Biases among Muslim Retail Investors in Malaysia
2014 - 2015 What Can We Learn from Working Capital Management during the Different Business Cycles of Malaysian Firms
2013 - 2016 Formulating New Model to Mitigate Access to Financing Problem Among SMEs in Malaysia
2013 - 2017 Developing an Islamic Financing Model for Abandoned Housing Projects
2012 - 2016 A Conceptual Analysis on the Application of REITs in Developing Waqaf Land in Malaysia
2012 - 2016 Capital Structure and the Financing Decisions of SMEs: Survey and Empirical Evidence on Malaysia
2012 - 2015 Firms Rational Financing Behaviour: Malaysia Evidence
2011 - 2013 How Important is the Impact of Market Timing on Capital Structure? A Management Perspective (RU 2011)
2011 - 2012 Speed of Adjustment towards Target Capital Structure: Southeast Asia Evidence (RU 2011)
On-Going
2021 - Present MUSHARAKAH AS AN ISLAMIC FINANCIAL STRUCTURE FOR VENTURE CAPITAL: ITS POTENTIALS AND POSSIBLE APPLICATIONS FOR SMALL AND MEDIUM ENTERPRISES (SMEs) IN MALAYSIA


Award & Recognition


24 Jul, 2019 Highest Number of Publications Award (Index Journal Articles) - Kulliyyah Level - International Islamic University Malaysia University
24 Jul, 2019 Top 30 Contributors to IIUM Research Performance - International Islamic University Malaysia University
23 Jul, 2018 Top 250 Contributors to IIUM Research (MyRA) Performance (2015-2017) - International Islamic University Malaysia University
24 Jun, 2015 Best Indexed Journal Article - KENMS KCDIO
29 Apr, 2015 Highest Citation in Citation Index Journal Award - IIUM University
19 Sep, 2014 Best Resercher Award 2014 Finance Department - Kulliyyah of Economics and Management Sciences University
20 Feb, 2013 IIUM IRIIE 2013 - IIUM University
13 Oct, 2012 Best Thesis Award (UKM 40th Convocation) - Graduate School of Business-Universiti Kebangsaan Malaysia National
15 Jun, 2012 IIUM IRIIE 2012 - IIUM University
17 Jun, 2011 Best Research Paper Award - Global Business and Social Science Research Conference, China (2011) International
17 Jun, 2005 Quality Award - IIUM University


Publications


Article

2023 Application of tawarruq in Islamic banking institutions in Somalia. Qualitative Research in Financial Markets, () pp. 1-19
2023 Bank Rakyat Shariah Forum. Islamic Finance News, 20 (1) pp. 20-20
2023 The determinants of cash waqf re-endow intention in Malaysia. al-Uqud: Journal of Islamic Economics, 7 (1) pp. 126-137
2022 Basel iii capital regulation framework and Islamic bank’s risk. IIUM Law Journal, 30 (S2) pp. 93-128
2022 Corporate governance and corporate social responsibility in Islamic banks: a systematic literature review. IIUM Law Journal, 30 (S2) pp. 57-92
2022 Corporate governance and foreign ownership in the Islamic capital market of Kuwait. Asian Economic and Financial Review, 13 (1) pp. 1-17
2022 Do the Islamic banks play a role in the monetary policy transmission in Pakistan? a comparative analysis with conventional banks using panel data analysis. The Journal of Muamalat and Islamic Finance Research, 19 (2) pp. 13-27
2022 Esg reporting practices among Islamic banks: a global perspective. IIUM Law Journal, 30 (S2) pp. 1-37
2022 Factors influencing behavioral intention to participate in family takaful in Malaysia: an extension of UTAUT2 theory. Journal of Islamic Finance, 11 (2) pp. 68-83
2022 Home bias in the global portfolio investment of selected OIC countries. Journal of Emerging Economies & Islamic Research, 10 (1) pp. 24-43
2022 Impact of foreign currency derivatives on firm performance: evidence on Shari’ah and non-Shari’ah compliant firms. Jurnal Pengurusan, 64 () pp. 15-28
2022 Impact of zakat distribution on entrepreneurship program: a case of BAZNAS Yogyakarta, Indonesia. Jurnal AFKARUNA, 18 (2) pp. 324-339
2022 Income zakat collection through salary deduction in Selangor. a proposed framework for sustainability. AZKA International Journal Of Zakat & Social Finance (AZJAF), 3 (3) pp. 37-52
2022 Optimization of solvency margin in family takaful and life insurance institutions in Malaysia: application of data envelopment analysis. Journal of Islamic Accounting and Finance Research, 4 (1) pp. 155-182
2022 Possible applications of Tawarruq (commodity Murabaha) as a cash financing tool in Islamic Banks Institutions in Somalia. Journal of Positive School Psychology, 6 (4) pp. 4380-4396
2022 Shari'ah governance of Islamic banks: the role of shari'ah supervisory board - a bibliometric analysis. IIUM Law Journal, 30 () pp. 129-278
2022 Sukuk structure for deficit financing during Covid-19 crisis. Economic Studies Journal, () pp.
2022 The 10th ASEAN International Conference on Islamic Finance (AICIF) 2022. Islamic Finance News, 19 (50) pp. 19-19
2022 The determinants of non-performing loans in the Indonesian banking industry: an asymmetric approach before and during the pandemic crisis. Sage Open, April - June () pp. 1-13
2022 The efficiency of Malaysian Islamic banks: Intermediation, production and operating approach. Asian Management and Business Review, 2 (1) pp. 63-73
2022 The influence of investment, debt, and dividend policies on the stock return of Shariah compliant companies in Indonesia (ISSI). Global Review of Islamic Economics and Business, 9 (2) pp. 067-076
2022 Zakat contribution model in entrepreneurship empowerment of zakat institutions: case study of Lazismu Pusat. Nusantara Islamic Economic Journal, 1 (2) pp. 142-154
2021 Academic research in Islamic banking and finance. Islamic Finance News, 18 (48) pp.
2021 Bank liquidity risk and capital structure: a conceptual review of theoretical and empirical research on Islamic banking perspective. International Journal of Academic Research in Accounting, Finance and Management Sciences, 11 (3) pp. 539-553
2021 Editorial note. Turkish Journal of Islamic Economics, Special Issue () pp.
2021 Hedging, managerial ownership and firm value. Journal of Asian Business and Economic Studies, 28 (4) pp. 1-18
2021 Level of corporate social responsibility disclosure of shariah PLCs in Malaysia. Journal of Global Business and Social Entrepreneurship, 7 (20) pp. 137-150
2021 Non-linear relationship between foreign currency derivatives and firm value: evidence on Shariah compliant firms. Islamic Economic Studies, 28 (2) pp.
2021 The efficiency of commercial banks in Indonesia. International Journal of Economic Policy in Emerging Economies (IJEPEE), () pp.
2021 The efficiency of Islamic banks in the Southeast Asia (SEA) region. Future Business Journal, 7 (16) pp. 1-16
2021 The impact of COVID‑19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets. Future Business Journal, 7 (33) pp. 1-16
2021 The impact of shariah board on the performance of Islamic banks and the relevance of shariah committee (BNM) new ruling on the restructuring of Islamic financing facility during the pandemic crisis. Turkish Journal of Islamic Economics, 8 () pp. 423-443
2021 The influence of firm, industry and concentrated ownership on dynamic capital structure decision in emerging market. Journal Asia Business Studies, 15 (5) pp. 669-709
2021 Validity of zakat ratios as Islamic performance indicators in Islamic banking: a congeneric model and confirmatory factor analysis. ISRA International Journal of Islamic Finance, () pp. 1-22
2020 A systematic literature review on Shari’ah governance mechanism and firm performance in Islamic banking. Islamic Economic Studies, (ahead-of-print no) pp.
2020 Corporate governance and banking performance: the mediating role of intellectual capital among OIC countries. Corporate Governance, ahead-of-print () pp. 1-26
2020 Debt financing and firm performance: an analysis of securities commission of Malaysia 2013 revised shariah approved firms screening method. COMSATS Journal of Islamic Finance, 5 (1) pp. 64-85
2020 Debt fnancing and firm performance: an analysis of Securities Commission of Malaysia 2013 revised shariah approved firms screening method. COMSATS Journal of Islamic Finance, 5 (1) pp. 64-85
2020 Determinants of banks’ capital structure: a review of theoretical and selected empirical research. International Journal of Business and Social Science, 11 (12) pp. 131-141
2020 Determinants of banks’ capital structure: a review of theoretical and selected empirical research. International Journal of Business and Social Science, 11 (12) pp. 131-141
2020 Does corporate governance affect the performance of Islamic banks? new insight into Islamic countries. Corporate Governance Journal, 20 (6) pp. 1073-1090
2020 Examining technological and productivity change in the Islamic banking industry. Pertanik Journal of Social Sciences & Humanities, 28 (4) pp. 3355-3374
2020 Financial performance in Islamic banking and Shari’ah supervision under interventionist regulatory approach: a system-GMM dynamic panel analysis. Turkish Journal of Islamic Economics (TUJISE), () pp. 1-31
2020 Increasing the role of zakat institutions in poverty reduction through productive zakat programs in Indonesia.. Humanities & Social Sciences Reviews, 8 (3) pp. 1243-1250
2020 Micro, small and medium enterprises’ competitiveness and micro-takaful adoption. ISRA International Journal of Islamic Finance, () pp.
2020 Service quality of Islamic banks: satisfaction, loyalty and the mediating role of trust. Islamic Economic Studies, 28 (1) pp. 3-23
2020 Shari’ah supervisory board’s size impact on performance in the Islamic banking industry: empirical investigation of the optimal board size across jurisdictions. Journal of Islamic Accounting and Business Research, 11 (1) pp. 110-129
2020 Takāful demand: a review of selected literature. ISRA International Journal of Islamic Finance, 12 (3) pp. 443-455
2020 The determinants of foreign direct investment in Central Asian region: A case study of Tajikistan, Kazakhstan, Kyrgyzstan, Turkmenistan and Uzbekistan (A quantitative analysis using GMM). Russian Journal of Economics, 6 (2) pp. 162-176
2020 The impact of monetary systems on income inequity and wealth distribution: A case study of cryptocurrencies, fiat money and gold standard. International Journal of Emerging Markets, 15 (6) pp. 1161-1183
2020 The influence of corporate governance on intellectual capital efficiency: evidence from Islamic banks of OIC countries. Asian Journal of Accounting Research, () pp.
2019 A comparative analysis of financial affordability in Islamic home financing instruments in Malaysia. International Journal of Housing Markets and Analysis, () pp. 1-20
2019 a Comparative analysis of the performance of Islamic and conventional banks: does corporate governance matter?. International Journal of Business Excellence, () pp.
2019 A critical review of bank stability measures in selected countries with dual banking system. Revista Publicando, 6 (19) pp. 118-131
2019 An analysis of maslahah based resolutions issued by Bank Negara Malaysia. ISRA Journal of Islamic Finance, ahead-of-print no (ahead-of-print no) pp.
2019 An analysis of maṣlaḥah based resolutions issued by Bank Negara Malaysia. ISRA International Journal of Islamic Finance, 12 (1) pp. 89-102
2019 Are the new crypto-currencies qualified to be included in the stock of high quality liquid assets? a case study of bitcoin currency. Al-Shajarah, Special Issue: Islamic Banking and Finance () pp. 107-145
2019 Board size, chief risk officer and risk-taking in Islamic banks: role of shariah supervisory board(Saiz Lembaga Pengarah, Ketua Pegawai Risiko dan Pengambilan Risiko di Bank-bank Islam: Peranan Lembaga Penyeliaan Syariah). Jurnal Pengurusan, 57 () pp.
2019 Book Excerpt: Islamic fund and wealth management: a way forward. Islamic Finance news (IFN), 16 () pp. 29
2019 Capital regulation and ownership structure on bank risk. Journal of Financial Regulation and Compliance, () pp.
2019 Cryptocurrencies, fiat money or gold standard: an empirical evidence from volatility structure analysis using news impact curve. International Journal of Monetary Economics and Finance, 12 (2) pp. 75-97
2019 Dual board governance structure and multi-bank performance: a comparative analysis between Islamic banks in Southeast Asia and GCC countries. Corporate Governance: The International Journal of Business in Society, ahead-of-print (ahead-of-print) pp.
2019 Editorial note. Journal of Islamic Finance, 8 (Special Issue) pp. i-iii
2019 How director remuneration impacts firm performance: an empirical analysis of executive director remuneration in Pakistan. Borsa Istanbul Review, 19 (2) pp. 186-196
2019 Internal factors affecting continuous donations among cash Waqf donors. International Journal of Academic Research in Business and Social Sciences, 9 (9) pp. 1304-1311
2019 Notes on contributors. AL-SHAJARAH: JOURNAL OF THE INTERNATIONAL INSTITUTE OF ISLAMIC THOUGHT AND CIVILIZATION (ISTAC), Special Issue : Islamic Banking and Finance 2019 () pp. 229-238
2019 Residential property price hike and speculation. Planning Malaysia, 17 (1) pp. 328-337
2019 The effect of corporate governance on Islamic banking performance: a maqasid Shari’ah index approach on Indonesian Islamic banks. Journal of Islamic Finance, 8 (Special Issue) pp. 1-18
2019 The effect of GST announcement on stock market volatility: evidence from intraday data. Journal of Advances in Management Research, 16 (3) pp. 313-328
2019 The effect of symmetric and asymmetric information on volatility structure of crypto-currency markets: a case study of bitcoin currency. Journal of Financial Economic Policy, 11 (3) pp. 432-450
2019 The future of the banking system under the dominance and development of the cryptocurrency industry: empirical evidence from cointegration analysis. The Journal of Wealth Management, 22 (2) pp. 1-9
2019 The impact of zakat contribution on the financial performance of Islamic banks in Malaysia. Al-Shajarah: Journal of The International Institute of Islamic Thought and Civilization (ISTAC), Special Issue: Islamic Banking and Finance () pp. 1-21
2019 The role of perceived benefits in formation of intention to use Islamic crowdfunding platform among small and medium enterprises in Malaysia. International Journal of Entrepreneurship and Management Practices, 2 (7) pp. 39-47
2018 Comparative analysis of bank stability in Indonesia: A non-parametric approach on different banking models. Journal of Islamic Monetary Economics and Finance, 3 (2) pp. 201-219
2018 Do Muslim directors influence firm performance? empirical evidence from Malaysia. Al-Shajarah: Journal of The International Institute of Islamic Thought and Civilization (ISTAC), Special Issue Islamic Banking & Finance 2018 () pp. 283-305
2018 Firm level, ownership concentration and industry level determinants of capital structure in an emerging market: Indonesia evidence. Asian Academy of Management Journal of Accounting and Finance, 14 (1) pp. 127-151
2018 Long-term relationship of crude palm oil commodity pricing under structural break. Journal of Capital Market Studies, 2 (2) pp. 162-174
2018 Shari’ah supervisory board characteristics effects on Islamic banks’ performance: evidence from Malaysia. International Journal of Bank Marketing, 36 (2) pp. 290-304
2018 The impact of GST implementation on the Malaysian stock market index volatility: an empirical approach. Journal of Asian Business and Economic Studies, () pp. 1-19
2017 Bank performance and shari’ah supervisory board attributes by Islamic banks: Does bank size matter?. Journal of Islamic Finance, 6 (Special Issue 2017) pp. 174-187
2017 Debt determinants of shari’ah approved firms: Empirical evidence from Malaysia. Journal of Islamic Finance, 6 (Special Issue) pp. 188-204
2017 Democracy and socio-economic inclusion in Nigeria: reducing the mutual exclusivity through Islamic microfinance. Al-Shajarah, Special Issue: Islamic Banking and Finance () pp. 1-26
2017 Determinants of efficiency of Islamic banks: Indonesian evidence. Journal of Islamic Finance, 6 (1) pp. 1-15
2017 Editorial Note Journal of Islamic Finance (Special Issue 2017). Journal of Islamic Finance, 6 (Special Issue) pp. i-iv
2017 Efficiency of Qatari banking industry: an empirical investigation. International Journal of Bank Marketing, 35 (2) pp. 298-318
2017 Further evidence on the stability of Islamic versus conventional banks in selected GCC countries from 1999 to 2015. Journal of Islamic Finance, 6 (Special Issue) pp. 035-045
2017 Investment decision behaviour of the Malaysian retail investors and fund managers: A qualitative inquiry. Qualitative Research in Financial Markets, 10 (2) pp. 134-151
2017 Ownership structure of family-owned firms and debt financing. evidence on shari’ah-compliant firms in Malaysia. Al-Shajarah, Special Issue: Islamic Banking and Finance () pp. 139-163
2017 Target capital structure and speed of adjustment: a dynamic evidence from Shariah approved firms in Malaysia. Journal of Muamalat and Islamic Finance Research, 14 (2) pp. 65-91
2017 The ASEAN Market: Cross-border collaboration in Islamic finance between Malaysia and Thailand. Islamic Banking and Finance Review, 4 () pp. 22-40
2016 A qualitative inquiry into the investment decision behaviour of the Malaysian stock market investors. Qualitative Research in Financial Markets, 8 (3) pp. 246-267
2016 A survey analysis on abandoned housing projects in Malaysia: the house buyers’ perspectives. Journal of Global Business and Social Entrepreneurship (GBSE), 1 (1) pp. 104-109
2016 A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives. Journal of Global Business and Social Entrepreneurship (GBSE), 1 (1) pp. 104-109
2016 Corporate financing behaviour of shariah compliant E50 SMEs. A panel data approach of GMM. International Jurnal of Islamic Business Ethics (IJIBE), 1 (1) pp. 66-79
2016 Debt financing behaviour: panel data evidence on medium enterprise. Journal of Global Business and Social Entrepreneurship (GBSE), 1 (1) pp. 1-7
2016 Determinants of working capital management before, during, and after the global financial crisis of 2008: Evidence from Malaysia. The Journal of Developing Areas, 50 (5) pp. 461-468
2016 Do Indonesian firms practice target capital structure? A dynamic approach. Journal of Asia Business Studies, 10 (3) pp. 318-334
2016 Examining systematic risk on Malaysian firms: panel data evidence. Journal of Global Business and Social Entrepreneurship (GBSE), 1 (2) pp. 26-30
2016 Islamic capital market and debt financing of Shariah-compliant firms in Indonesia. Al-Shajarah, Special Issue (Islamic Banking and Finance) pp. 67-86
2016 Islamic financing in mitigating access to financing problems of SMEs in Malaysia: a survey analysis. Intellectual Discourse, 24 (Special Issue) pp. 387-408
2016 The behavioral biases of Muslims in Islamic banking and finance: a second-order self-reported religiosity measurement invariance. Al-Shajarah, Special Issue (Islamic Banking and Finance) pp. 87-114
2016 Volatility component of derivative market: evidence from FBMKLCI based on CGARCH . Journal of Global Business and Social Entrepreneurship (GBSE), 1 (2) pp. 1-5
2015 Embedded options and the issue of gharar: Malaysian empirical evidence . Al-Shajarah , Special Issues () pp. 149-172
2015 Malaysian crude palm oil market volatility: a GARCH approach. International Journal of Economics and Management, 9 (S) pp. 103-120
2015 Technical efficiency of Nigerian insurance companies: a data envelopment analysis and patent growth curve modelling approach. International Journal of Data Envelopment Analysis, 3 (2) pp. 659-677
2014 Capital structure inconclusiveness: evidence from Malaysia, Thailand and Singapore. International Journal of Managerial Finance, 10 (1) pp. 23-38
2014 Derivatives, pricing efficiency and gharar: evidence on embedded options in Malaysia. Journal of Islamic Finance, 3 (2) pp. 39-48
2014 Firms’ speed of adjustment and rational financing behaviour: Malaysian evidence. Journal for Global Business Advancement, 7 (2) pp. 151-162
2014 Key factors influencing target capital structure of property firms in Malaysia. Asian Social Science, 10 (3) pp. 62-69
2013 Dynamic adjustment towards target capital structure: Thailand evidence. Jurnal Pengurusan, 39 (1) pp. 73-82
2013 Factors Affecting Speed of Adjustment to Target Leverage: Malaysia Evidence. Global Business Review, 14 (2) pp. 243-262
2013 IQMA: cultivating the potential of the mind. IIUM Journal of Case Studies in Management, 4 (1) pp. 21-30
2013 Predicting Sukuk Default Probability and Its Relationship with Systematic and Unsystematic Risks: Case Study of Sukuk in Indonesia. International Journal of Research in Commerce, Economics & Management, 3 (1) pp. 21-27
2013 Shariah issue of warrant contract: empirical evidence from warrant mispricing in Malaysia market. Global Review of Islamic Economics and Business, 1 (1) pp. 50-68
2012 Practices of capital structure decisions: Malaysia survey evidence. International Review of Business Research Papers, () pp.
2012 Target capital structure and speed of adjustment: Panel data evidence on Malaysia Shariah compliant securities. International Journal of Economics, Management and Accounting, 20 (2) pp. 87-107
2012 The impact of sukuk on corporate financing: Malaysia evidence. Journal of Islamic Finance, 1 (1) pp. 1-11
2011 Determinants of target capital structure: evidence on South East Asia countries. Journal of Business and Policy Research, 6 (3) pp. 39-61
2009 On the efficiency of the Malaysian banking Sector: a risk-return perspective. International Journal of Commerce and Management, 19 (3) pp. 222-232
2008 Board of directors, strategic control and corporate financial performance of Malaysian listed construction and technology companies: an empirical analysis. The ICFAI University Journal of Corporate Governance, VII (4) pp. 18-33
2008 The sources and determinants of productivity growth in the Malaysian Islamic banking sector: a non-stochastic frontier approach. International Journal of Accounting and Finance, 1 (2) pp. 193-215
2006 Correlation and benefits of portfolio diversification among equity markets of developed countries and emerging countries in South East Asia region. International Journal of Economics and Management, 1 (1) pp. 43-66
2006 Correlation studies on equity markets using linear regression model - Malaysia, developing and developed markets . Journal of International Business and Entrepreneurship, 12 (2) pp. 45-63
2006 The pricing efficiency of equity warrants: a Malaysian case. The ICFAI Journal of Derivatives Markets, III (3) pp. 6-22
Conference or Workshop Item

2021 Entrepreneurship model in Zakat Institution of Muhammadiyah: case study in Lazismu Yogyakarta Province. In: Fourth International Conference on Sustainable Innovation 2020 – Humanity, Education and Social Sciences (IcoSIHESS 2020),
2021 Exploring the role of the banking industry in promoting the betterment of financial inclusion in Tajikistan. In: International Conference on Islamic Financial Literacy,
2021 Shariah board and the performance of Islamic banks. In: International Research Conference on Shariah Compliant Industries (IRCSI),
2021 The motivation of continuous cash waqf in Malaysia from Islamic expectancy theory. In: International Conferences on Contemporary Islamic Studies (ICIS 2021),
2021 The role of Lazismu on entrepreneurship empowerment program for the poor. In: Fifth International Conference on Sustainable Innovation 2020 – Humanity, Education and Social Sciences (IcoSIHESS 2021),
2020 A conceptual paper on developing musharakah mutanaqisah model using zakat fund for empowering Muslims refugees. In: 8th ASEAN Universities International Conference on Islamic Finance (AICIF 2020),
2020 Corporate governance and firm performance: a longitudinal study. In: 22nd Malaysian Finance Association Conference 2020 (MFAC 2020),
2020 Corporate social responsibility disclosure of Malaysian shariah public listed companies. In: Persidangan Antarabangsa Sains Sosial dan Kemanusiaan Kali ke-5 (PASAK 2020),
2020 Entrepreneurship model in zakat institution of Muhammadiyah. case study in Lazismu Yogyakarta Province. In: 2nd International Symposium on Social Sciences, Humanities, Education & Religious Studies (ISSHERS) 2020,
2020 Foreign currency and interest rate derivatives on firm value: evidence on Shari’ah compliant firms. In: 22nd Malaysian Finance Association Conference 2020 (MFAC 2020),
2020 How to publish your research paper in indexed journal. In: Virtual International Seminar on Islamic Finance (VISIF 2020) & PhD Colloquium 2020,
2020 How to publish your research paper in Scopus-indexed journal (TIFBR Go for Scopus). In: Workshop: Tazkia Islamic Finance and Business Review (TIFBR) Go for SCOPUS,
2020 Level of corporate social responsibility disclosure of Malaysian Shariah public listed companies. In: 22nd Malaysian Finance Association Conference 2020 (MFAC 2020),
2020 Model risk and the Covid–19. The reality in Islamic banking industry. In: The 6th Islamic Finance Conference (IFC 2020),
2020 Shariah Board governance, IFSA 2013 and Islamic banks’ performance. In: 8th ASEAN Universities International Conference on Islamic Finance (8th AICIF) 2020,
2020 Will inclusion of precious metals in Nigerian stocks and oil portfolio lead to diversification benefit in the era of covid-19? MGARCH-DCC approach. In: 22nd Malaysian Finance Association Conference 2020 (MFAC 2020),
2019 Does perceived usefulness and perceived ease of use affect intention to use crowdfunding platforms?. In: 21st Malaysian Finance Association Conference 2019 (MFAC 2019),
2019 Hedging effectiveness of Malaysian derivative markets under different asset classes. In: 1st International Conference on Financial Markets (ICFM 2019),
2019 Increasing the role of zakat institutions in poverty reduction through productive zakat programs in Indonesia. In: The 3rd International Conference on Sustainable Innovation 2019 (ICoSI),
2019 Intention to purchase Islamic life insurance policy: evaluation of the mediating effects of perceived trust. In: INTERNATIONAL SYMPOSIUM ON APPLIED STRUCTURAL EQUATION MODELING AND METHODOLOGICAL MATTERS SASEM 2019,
2019 Service quality on customers’ satisfaction and loyalty. Survey evidence on mediation role of trust in Islamic banks. In: The 7th ASEAN Universities International Conference on Islamic Finance (AICIF 2019),
2019 The ripple effect of residential property price in Malaysia. In: 1st International Conference on Financial Markets (ICFM 2019),
2019 The role of perceived benefits in formation of intention to use Islamic crowdfunding platform among small and medium enterprises in Malaysia. In: International Conference on Business, Management, Technology and Education ( ICBMTE 2019),
2018 Islamic home financing instruments in Malaysia: the emerging issue of financial (Un)affordability. In: 6th ASEAN Universities International Conference on Islamic Finance (AICIF),
2018 Measuring bank stability: a comparative analysis between Islamic and conventional banks in Malaysia. In: 2nd Advances in Business Research International Conference (ABRIC 2016),
2018 Residential property price hike and speculation. In: 9th International Real Estate Research Symposium IRERS 2018,
2018 The effect of corporate governance on Islamic banking performance using maqasid index approach in Indonesia. In: 6th ASEAN Universities International Conference on Islamic Finance (AICIF),
2018 The potential of crowdfunding platform in developing cash-waqf.. In: 6th International Conference of Entrepreneurial Finance,
2017 An empirical investigation of fund managers’ religiosity level during investment decisions. In: International Islamic Fund And Wealth Management Forum (IIFWMF),
2017 An investigation of shariah penny stocks’ performance and its determinants: Evidence from Bursa Malaysia. In: International Islamic Fund And Wealth Management Forum (IIFWMF),
2017 Malaysian stock index futures market hedging effectiveness: symmetric and asymmetric model. In: International Islamic Fund And Wealth Management Forum (IIFWMF),
2017 Performance of ESG versus Shariah compliant firms in Malaysia. A conceptual framework. In: International Islamic Fund and Wealth Management FORUM (IIFWMF),
2017 The ASEAN market: cross-border collaboration in Islamic finance between Malaysia and Thailand. In: Global Forum on Islamic Economics, Finance & Banking (IEFB),
2016 A comparative analysis of stability measures between Islamic and conventional banks in selected MENA countries during 1999 to 2015. In: 4 th ASEAN International Conference on Islamic Finance (AICIF 2016),
2016 Debt determinants of shariah approved firms: Empirical evidence from Malaysia. In: 4th ASEAN International Conference on Islamic Finance (AICIF 2016),
2016 Determinants of efficiency of Islamic banks: Indonesian evidence. In: 4th ASEAN International Conference on Islamic Finance (AICIF 2016),
2016 Does the corporate financing behaviour of shariah compliant firms differ from non-shariah compliant firms? An Indonesian empirical evidence. In: 4th ASEAN International Conference on Islamic Finance (AICIF 2016),
2016 Measuring bank stability: a comparative analysis between Islamic and conventional banks in Malaysia. In: 2nd Advances in Business Research International Conference ABRIC 2016),
2016 Overview of property price and its influencing factors in Malaysia. In: National Seminar on Abandoned Housing Projects: Causes & Solutions,
2016 Shari’ah supervisory board characteristics effects on Islamic banks’ performance: Evidence from Malaysia. In: 4th ASEAN International Conference on Islamic Finance (AICIF 2016),
2016 The financing choices of firms after financial liberalization : Indonesian evidence. In: 4th ASEAN INTERNATIONAL CONFERENCE ON ISLAMIC FINANCE (4th AICIF 2016),
2015 Corporate financing behaviour of Shariah compliant E50 SMEs. A panel data approach of GMM . In: ASEAN International Conference on Islamic Finance (AICIF 2015),
2015 A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives. In: International Conference on Global Business & Social Entrepreneurship (ICoGBSE2015),
2015 Capital structure determinants of Shariah-compliant firms: Malaysian evidence. In: 17th Malaysian Finance Association Conference 2015 (MFAC 2015),
2015 Crude palm oil market volatility: pre and post crisis periods. Evidence from Qarch. In: ASEAN International Conference on Islamic Finance (AICIF 2015),
2015 Debt financing behaviour of Shariah compliant SMEs (enterprise 50). A dynamic approach on Malaysian Islamic capital market . In: International Conference on Islamic Perspective of Accounting, Finance, Economics and Management (IPAFEM 2015),
2015 Debt financing behaviour: panel data evidence on medium enterprises. In: International Conference on Global Business & Social Entrepreneurship (ICoGBSE2015),
2015 Determinants of working capital management before, during and after the global financial crisis of 2008: evidence from Malaysia. In: Asia-Pacific Conference on Business and Social Sciences 2015 (in partnership with The Journal of Developing Areas,
2015 Modelling debt financing behaviour of Malaysia SMEs. In: 2nd International Symposium on Technology Management & Emerging Technologies (ISMET 2015),
2015 Volatility component of derivative market: evidence from FBMKLCI based on CGARCH . In: International Conference on Global Business & Social Entrepreneurship (ICoGBSE2015),
2014 Crude palm oil market volatility: Malaysian evidence. In: National Research & Innovation Conference for Graduate Studies in Social Sciences 2014 (GS-NRIC 2014) ,
2014 Debt: how much is too much?. In: Kongsi_Ilmu@FEP UKM,
2014 Derivatives, pricing efficiency and gharar. Evidence on embedded options in Malaysia. In: 2nd Asean International Conference on Islamic Finance ,
2014 Embedded options and the issue of Gharar. Malaysian empirical evidence. In: InauguraI International Conference of Finance and Financial Services 2014,
2014 Gharar and mispricing of equity warrants, Malaysian evidence. In: Islamic Banking & Finance 2014 Conference,
2014 Long-run relationship between Malaysian crude palm oil spot and futures market. In: National Research & Innovation Conference for Graduation Students in Social Sciences 2014 (GS-NRIC 2014),
2014 The existance of target capital structure on Indonesian firms. A dynamic approach. In: 2014 International Symposium on Technology Management And Emerging Technologies (ISTMET 2014),
2013 Adjustment factors and firms’ rational financing behaviour. Malaysia evidence . In: Seminar Hasil Penyelidikan Sektor Pengajian Tinggi Kementerian Pendidikan Malaysia, Ke-3 2013,
2013 Capital structure inconclusiveness: evidence from Malaysia . In: Seminar Hasil Penyelidikan Sektor Pengajian Tinggi Kementerian Pendidikan Malaysia, Ke-3 2013,
2013 Investigating firm and country specifics in pursuing optimality. Shariah compliant securities in Malaysia. In: MFA Conference : Financial Challenges and Economic Growth. The Way Forward,
2013 Key factors influencing target capital structure of property firms in Malaysia. In: Seminar Hasil Penyelidikan Sektor Pengajian Tinggi Kementerian Pendidikan Malaysia, Ke-3,
2012 Corporate financing dynamics: Malaysia empirical evidence. In: Penyelidikan Memacu Transformasi,
2012 Is Capital Structure Study Still A Puzzle? Southeast Asian Panel Data Evidence . In: 14th Malaysian Finance Association Conference 2012,
2012 Predicting sukuk default probability and its relationship with the sukuk rating level: case study of sukuk in Malaysia. In: International Conference on Islamic Finance 2012 & 6th Regional Shariah Scholars Dialogue (ICIF2012),
2012 Sukuk, bond market development and target capital structure : selected Southeast Asian Countries. In: International Islamic Accounting and Finance Conference,
2011 Corporate financing decisions: Malaysia survey evidence. In: 13th Malaysian Finance Association Conference 2011,
2011 Determinants of target capital structure: evidence on South East Asia countries. In: Global Business and Social Science Research,
2011 Determinants of target capital structure: evidence on South East Asia countries under dynamic framework. In: Financial Innovation and Transformation in the 21st century,
2011 Dynamism of capital structure: evidence from selected South East Asia countries panel data. In: 13th Malaysian Finance Association Conference 2011,
2011 Practices of capital structure decisions in Malaysia . In: Global Business and Social Science Research Conference ,
2009 The linkage between board of directors characteristics, distinct business environments and organizations financial performance. In: Financial Markets, Governance and Growth: Issue and Challenges,
2008 Correlation and portfolio diversification among South East Asia, emerging and developed countries . In: 15th Annual Conference of the Multinational Finance Society,
2007 On the efficiency of the Malaysian banking sector: a risk-return perspective . In: 9th Malaysian Finance Association Conference,
2006 Correlation studies on equity markets using linear regression model - Malaysia developing and developed markets. In: MFA's 8th. Annual Conference ,
2006 Musharakah Mutanaqisah and Al-Bay’ Bithaman Ajil Contracts as means for homeownership: a conceptual comparison . In: Young Scholars Conference,
2006 The performance of Islamic and conventional unit trust funds in Malaysia . In: Young Scholars Conference,
2006 The pricing efficiency of Malaysian equity warrants: studies using black scholes option pricing model (BSOPM) . In: MFA's 7th. Annual Conference ,
Book

2021 Banking and finance. IntechOpen, ISBN: 978-1-78984-682-9
2021 Handbook of research on Islamic social finance and economic recovery after a global health crisis. IGI Global, ISBN: 9781799868118
2019 Al-Shajarah: Journal of the International Institute of Islamic Thought and Civilization (ISTAC), Special Issue: Islamic banking and finance. IIUM Press, International Islamic University Malaysia, ISBN:
2019 Islamic fund & wealth management: a way forward. IIUM Press, ISBN: 978-983-44568-4-9
2018 Al-Shajarah: Special Issue, Islamic Banking and Finance, 2018. IIUM Press, ISBN: 1394-6870
2017 Al-Shajarah: Journal of the International Institute of Islamic Thought and Civilization (ISTAC), Special Issue: Islamic banking and finance. IIUM Press, International Islamic University Malaysia, ISBN:
Book Section

2022 Foreign currency and rate derivatives on firm value a Sharī ͑ah experience. In: Routledge, ISBN: 9780367546465, pp. 224-245
2022 Impact of derivatives on firm value: evidence on Shariah and non-Shariah compliant firms. In: Springer Nature Switzerland, ISBN: 978-3-030-98999-6, pp. 519-536
2022 Impact of derivatives on firm value: evidence on Shariah and non-Shariah compliant firms. In: Springer Nature Switzerland, ISBN: 978-3-030-98999-6, pp. 519-536
2022 Malay ethnic directors, board attributes and ownership structure on firm performance: corporate governance evidence from an emerging market. In: Springer Nature Switzerland AG, ISBN: 978-3-030-98999-6, pp. 497-518
2022 Malay ethnic directors, board attributes and ownership structure on firm performance: corporate governance evidence from an emerging market. In: Springer Nature Switzerland AG, ISBN: 978-3-030-98999-6, pp. 497-518
2022 The dynamic capital structure decision of firms in Indonesia. In: Springer Nature Switzerland AG 2022, ISBN: 978-3-030-98999-6, pp. 103-124
2022 The dynamic capital structure decision of firms in Indonesia. In: Springer Nature Switzerland AG 2022, ISBN: 978-3-030-98999-6, pp. 103-124
2021 Adoption of financial technology in Islamic crowd-funding: predicting small and medium-sized enterprises’ intention to use the investment account platform. In: IGI Global, ISBN: 9781799885467, pp. 216-238
2021 Adoption of financial technology in Islamic crowd-funding: predicting small and medium-sized enterprises’ intention to use the investment account platform. In: IGI Global, ISBN: 9781799885467, pp. 216-238
2021 The role of zakat during pandemic crisis and post recovery (maqāsid al-sharīʽah perspective). In: IGI Global, ISBN: 9781799868118, pp. 1-18
2021 The role of zakat during pandemic crisis and post recovery (maqāsid al-sharīʽah perspective). In: IGI Global, ISBN: 9781799868118, pp. 1-18
2021 The role of zakat during pandemic crisis and post recovery (maqāsid al-sharīʽah perspective). In: IGI Global, ISBN: 9781799868118, pp. 1-18
2021 The role of zakat during pandemic crisis and post recovery (maqāsid al-sharīʽah perspective). In: IGI Global, ISBN: 9781799868118, pp. 1-18
2021 Zakat and the performance of Islamic banks. Empirical evidence. In: IGI Global, ISBN: 9781799868118, pp. 1-18
2020 Capital adequacy regulation. In: IntechOpen, ISBN: , pp. 1-13
2020 Capital adequacy regulation. In: IntechOpen, ISBN: , pp. 1-13
2020 Capital adequacy regulation. In: IntechOpen, ISBN: , pp. 1-13
2020 Capital adequacy regulation. In: IntechOpen, ISBN: , pp. 1-13
2020 Corporate governance and firm performance in an emerging market: the case of Malaysian firms. In: IGI Global, ISBN: 9781799821366, pp. 208-226
2020 Relevance of shari’ah governance in driving performance of Islamic Banks during the financial crisis: international evidence. In: IntechOpen, ISBN: , pp. 1-13
2020 Relevance of shari’ah governance in driving performance of Islamic Banks during the financial crisis: international evidence. In: IntechOpen, ISBN: , pp. 1-13
2020 Relevance of shari’ah governance in driving performance of Islamic Banks during the financial crisis: international evidence. In: IntechOpen, ISBN: , pp. 1-13
2020 Relevance of shari’ah governance in driving performance of Islamic Banks during the financial crisis: international evidence. In: IntechOpen, ISBN: , pp. 1-13
2020 Shari’ah governance for Islamic banking: evidence from diverse regulatory environments. In: IGI Global, ISBN: 9781799816119 (hardcover), 9781799834724 (softcover), pp. 213-244
2019 Adoption of financial technology in Islamic crowd-funding: predicting small and medium-sized enterprises’ intention to use the investment account platform. In: IGI Global, ISBN: 9781799800392, pp. 12-35
2019 An investigation of Sharīʿah penny stocks’ performance and its determinants: evidence from Bursa Malaysia. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 227-239
2019 An investigation of Sharīʿah penny stocks’ performance and its determinants: evidence from Bursa Malaysia. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 227-239
2019 An investigation of Sharīʿah penny stocks’ performance and its determinants: evidence from Bursa Malaysia. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 227-239
2019 Debt financing determinants of Sharīʿah approved firms in Malaysia: evidence across industries. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 365-381
2019 Debt financing determinants of Sharīʿah approved firms in Malaysia: evidence across industries. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 365-381
2019 Debt financing determinants of Sharīʿah approved firms in Malaysia: evidence across industries. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 365-381
2019 Debt financing determinants of Sharīʿah approved firms in Malaysia: evidence across industries. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 365-381
2019 Financial sustainability of SMEs through Islamic crowdfunding. In: IGI Global, ISBN: 9781799802181, 1799802183, pp. 321-337
2019 Financial sustainability of SMEs through Islamic crowdfunding. In: IGI Global, ISBN: 9781799802181, 1799802183, pp. 321-337
2019 Investors’ confidence in the Malaysian stock market and religiosity during investment decisions. In: IIUM Institute of Islamic Banking and Finance (IIiBF), ISBN: 978-983-44568-4-9, pp. 77-96
2019 Investors’ confidence in the Malaysian stock market and religiosity during investment decisions. In: IIUM Institute of Islamic Banking and Finance (IIiBF), ISBN: 978-983-44568-4-9, pp. 77-96
2019 Investors’ confidence in the Malaysian stock market and religiosity during investment decisions. In: IIUM Institute of Islamic Banking and Finance (IIiBF), ISBN: 978-983-44568-4-9, pp. 77-96
2019 Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia. In: IIUM Institute of Islamic Banking and Finance (IIiBF), ISBN: 978-983-44568-4-9, pp. 271-286
2019 Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia. In: IIUM Institute of Islamic Banking and Finance (IIiBF), ISBN: 978-983-44568-4-9, pp. 271-286
2019 Malaysian stock index futures market hedging effectiveness: symmetric and asymmetric model. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 197-207
2019 The potential of sharī'ah-compliant equity crowdfunding as a source of fund for new entrepreneurs in Malaysia. In: IIiBF, International Islamic University of Malaysia, ISBN: 978-983-44568-4-9, pp. 179-196
2019 The potential of sharī'ah-compliant equity crowdfunding as a source of fund for new entrepreneurs in Malaysia. In: IIiBF, International Islamic University of Malaysia, ISBN: 978-983-44568-4-9, pp. 179-196
2019 Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 37-48
2019 Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia. In: IIUM Institute of Islamic Banking and Finance, ISBN: 978-983-44568-4-9, pp. 37-48
2017 Ownership and debt financing: Indonesia evidence. In: InTechOpen, ISBN: 978-953-51-5557-7, pp. 1-24
2013 Capital structure of Southeast Asian firms. In: Palgrave Macmillan, ISBN: 978-1-137-26660-6, pp. 193-227
2011 Case studies in investment analysis. In: IIUM Press, ISBN: 978-967-418-185-7, pp. 33-40
Monograph

2012 Speed of adjustment towards target capital structure: Southeast Asia evidence. In: s.n,