{"id":"https://openalex.org/W2808075357","doi":"https://doi.org/10.1108/mf-05-2018-0218","title":"AssessingSukukdefaults using value-at-risk techniques","display_name":"AssessingSukukdefaults using value-at-risk techniques","publication_year":2018,"publication_date":"2018-06-15","ids":{"openalex":"https://openalex.org/W2808075357","doi":"https://doi.org/10.1108/mf-05-2018-0218","mag":"2808075357"},"language":"en","primary_location":{"id":"doi:10.1108/mf-05-2018-0218","doi":"https://doi.org/10.1108/mf-05-2018-0218","is_oa":false,"landing_page_url":"https://doi.org/10.1108/mf-05-2018-0218","pdf_url":null,"source":{"id":"https://openalex.org/S184351885","display_name":"Managerial Finance","issn_l":"0307-4358","issn":["0307-4358","1758-7743"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Managerial Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5007825535","display_name":"Nafis Alam","orcid":"https://orcid.org/0000-0002-7096-3692","observed_orcids":["https://orcid.org/0000-0002-7096-3692"]},"institutions":[{"id":"https://openalex.org/I4405276744","display_name":"University of Reading Malaysia","ror":"https://ror.org/004ene207","country_code":"MY","type":"education","lineage":["https://openalex.org/I4405276744"]}],"countries":["MY"],"is_corresponding":false,"raw_author_name":"Nafis Alam","raw_affiliation_strings":["Henley Business School Malaysia, University of Reading Malaysia, Iskandar Puteri, Malaysia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Henley Business School Malaysia, University of Reading Malaysia, Iskandar Puteri, Malaysia","institution_ids":["https://openalex.org/I4405276744"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5030259543","display_name":"M. Ishaq Bhatti","orcid":"https://orcid.org/0000-0002-5027-7871","observed_orcids":["https://orcid.org/0000-0002-5027-7871"]},"institutions":[{"id":"https://openalex.org/I196829312","display_name":"La Trobe University","ror":"https://ror.org/01rxfrp27","country_code":"AU","type":"education","lineage":["https://openalex.org/I196829312"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Muhammad Bhatti","raw_affiliation_strings":["Department of Economics and Finance, La Trobe University, Melbourne, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics and Finance, La Trobe University, Melbourne, Australia","institution_ids":["https://openalex.org/I196829312"]}]},{"author_position":"last","author":{"id":null,"display_name":"James T.F. Wong","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"James T.F. Wong","raw_affiliation_strings":["Mudajaya Group Bhd, Petaling Jaya, Malaysia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Mudajaya Group Bhd, Petaling Jaya, Malaysia","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":5.8839,"has_fulltext":false,"cited_by_count":17,"citation_normalized_percentile":{"value":0.95531632,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":90,"max":98},"biblio":{"volume":"44","issue":"6","first_page":"665","last_page":"687"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.9779999852180481,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.9779999852180481,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.01810000091791153,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/sukuk","display_name":"sukuk","score":0.7839999794960022},{"id":"https://openalex.org/keywords/default-risk","display_name":"default risk","score":0.718999981880188},{"id":"https://openalex.org/keywords/value-at-risk","display_name":"value at risk","score":0.9700000286102295},{"id":"https://openalex.org/keywords/corporate-debt","display_name":"corporate debt","score":0.46299999952316284},{"id":"https://openalex.org/keywords/credit-ratings","display_name":"credit ratings","score":0.675000011920929},{"id":"https://openalex.org/keywords/conventional-bonds","display_name":"conventional bonds","score":0.7749999761581421},{"id":"https://openalex.org/keywords/islamic-finance","display_name":"Islamic finance","score":0.6200000047683716},{"id":"https://openalex.org/keywords/malaysian-firms","display_name":"Malaysian companies","score":0.5929999947547913},{"id":"https://openalex.org/keywords/economic-sectors","display_name":"economic sectors","score":0.6050000190734863}],"concepts":[{"id":"https://openalex.org/C2776985281","wikidata":"https://www.wikidata.org/wiki/Q1145541","display_name":"Sukuk","level":4,"score":0.9568190574645996},{"id":"https://openalex.org/C69637215","wikidata":"https://www.wikidata.org/wiki/Q702362","display_name":"Default","level":2,"score":0.8152962923049927},{"id":"https://openalex.org/C69738904","wikidata":"https://www.wikidata.org/wiki/Q11693","display_name":"Bond","level":2,"score":0.6782112121582031},{"id":"https://openalex.org/C178350159","wikidata":"https://www.wikidata.org/wiki/Q162714","display_name":"Credit risk","level":2,"score":0.5858281254768372},{"id":"https://openalex.org/C138170105","wikidata":"https://www.wikidata.org/wiki/Q1337949","display_name":"Issuer","level":2,"score":0.5554338097572327},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5489835739135742},{"id":"https://openalex.org/C73858035","wikidata":"https://www.wikidata.org/wiki/Q1164550","display_name":"Market risk","level":2,"score":0.5430343747138977},{"id":"https://openalex.org/C197142791","wikidata":"https://www.wikidata.org/wiki/Q540626","display_name":"Bond market","level":2,"score":0.5354753732681274},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.5337926149368286},{"id":"https://openalex.org/C191654821","wikidata":"https://www.wikidata.org/wiki/Q247506","display_name":"Financial instrument","level":2,"score":0.5149415135383606},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5080854892730713},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4670041799545288},{"id":"https://openalex.org/C94128290","wikidata":"https://www.wikidata.org/wiki/Q963287","display_name":"Value at risk","level":3,"score":0.4105769395828247},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.38437920808792114},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3770056366920471},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.32486385107040405},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.32335174083709717},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.27696776390075684},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.21908420324325562},{"id":"https://openalex.org/C32896092","wikidata":"https://www.wikidata.org/wiki/Q189447","display_name":"Risk management","level":2,"score":0.1862284243106842},{"id":"https://openalex.org/C2991718497","wikidata":"https://www.wikidata.org/wiki/Q457753","display_name":"Islamic finance","level":3,"score":0.07039570808410645},{"id":"https://openalex.org/C4445939","wikidata":"https://www.wikidata.org/wiki/Q432","display_name":"Islam","level":2,"score":0.06485995650291443},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C27206212","wikidata":"https://www.wikidata.org/wiki/Q34178","display_name":"Theology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/mf-05-2018-0218","doi":"https://doi.org/10.1108/mf-05-2018-0218","is_oa":false,"landing_page_url":"https://doi.org/10.1108/mf-05-2018-0218","pdf_url":null,"source":{"id":"https://openalex.org/S184351885","display_name":"Managerial Finance","issn_l":"0307-4358","issn":["0307-4358","1758-7743"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Managerial Finance","raw_type":"journal-article"},{"id":"pmh:oai:centaur.reading.ac.uk:81603","doi":null,"is_oa":false,"landing_page_url":"https://centaur.reading.ac.uk/81603/","pdf_url":null,"source":{"id":"https://openalex.org/S4306402273","display_name":"CentAUR (University of Reading)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I71052956","host_organization_name":"University of Reading","host_organization_lineage":["https://openalex.org/I71052956"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","score":0.4399999976158142,"display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":39,"referenced_works":["https://openalex.org/W177249895","https://openalex.org/W577758920","https://openalex.org/W1564480008","https://openalex.org/W1854371709","https://openalex.org/W1874233764","https://openalex.org/W1882686838","https://openalex.org/W1966205237","https://openalex.org/W1984305473","https://openalex.org/W1986468453","https://openalex.org/W2001185860","https://openalex.org/W2016900742","https://openalex.org/W2073442338","https://openalex.org/W2087407747","https://openalex.org/W2100338199","https://openalex.org/W2110238775","https://openalex.org/W2117307769","https://openalex.org/W2125988247","https://openalex.org/W2126690097","https://openalex.org/W2147046365","https://openalex.org/W2149609101","https://openalex.org/W2158822318","https://openalex.org/W2160027301","https://openalex.org/W2183237498","https://openalex.org/W2185675208","https://openalex.org/W2188259159","https://openalex.org/W2212414646","https://openalex.org/W2283189183","https://openalex.org/W2292804585","https://openalex.org/W2413693932","https://openalex.org/W2534880136","https://openalex.org/W2549214678","https://openalex.org/W2567547927","https://openalex.org/W2740920766","https://openalex.org/W2788252252","https://openalex.org/W2790118636","https://openalex.org/W3123909541","https://openalex.org/W3124324735","https://openalex.org/W4230102927","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W7111164585","https://openalex.org/W2181828829","https://openalex.org/W577758920","https://openalex.org/W2147046365","https://openalex.org/W7096074086","https://openalex.org/W141293986","https://openalex.org/W7203557484","https://openalex.org/W2117307769","https://openalex.org/W1965701122","https://openalex.org/W1874233764"],"abstract_inverted_index":{"Purpose":[0],"The":[1,40,53,82,102,146],"purpose":[2],"of":[3,12,27,76,115,122,135,148],"this":[4],"paper":[5,41],"is":[6,90],"to":[7,32,48,86,181,194],"investigate":[8],"the":[9,58,65,73,79,97,112,120,133,189],"default":[10],"characteristics":[11],"Sukuk":[13,50,77,89,140,149,167,183,187],"issues":[14],"by":[15,68],"corporate":[16],"firms":[17],"in":[18,78,96],"Malaysia":[19],"using":[20],"value-at-risk":[21],"(VaR)":[22],"techniques":[23],"over":[24],"a":[25,116,139],"period":[26],"16":[28],"years":[29],"from":[30],"2000":[31],"2015":[33],"and":[34,44,125,161,185],"across":[35],"nine":[36],"economic":[37],"sectors.":[38],"Design/methodology/approach":[39],"employs":[42],"non-parametric":[43],"Monte":[45],"Carlo":[46],"simulations":[47],"estimate":[49],"defaults.":[51],"Findings":[52],"authors":[54],"analyses":[55],"revealed":[56],"that":[57,88,106],"VaR":[59,107],"predictions":[60],"were":[61],"fairly":[62],"consistent":[63],"with":[64,151],"ratings":[66],"provided":[67],"credit":[69,124],"rating":[70],"agencies,":[71],"despite":[72],"limited":[74],"tradability":[75],"secondary":[80],"market.":[81],"study":[83],"was":[84],"able":[85],"demonstrate":[87],"not":[91,130],"riskier":[92],"than":[93],"conventional":[94,142,152,195],"bonds":[95,153],"Malaysian":[98],"context.":[99],"Research":[100],"limitations/implications":[101],"research":[103],"findings":[104],"suggested":[105],"values":[108],"will":[109],"depend":[110],"on":[111,119,132,179],"fundamental":[113],"value":[114],"firm":[117],"based":[118],"considerations":[121],"market,":[123],"operational":[126],"risk.":[127],"It":[128],"does":[129],"rely":[131],"type":[134],"debt":[136,155],"instrument,":[137],"whether":[138,186],"or":[141],"bonds.":[143,196],"Practical":[144],"implications":[145],"use":[147],"along":[150],"as":[154],"instruments":[156],"creates":[157],"opportunities":[158],"for":[159],"investors":[160],"bond":[162],"issuers":[163],"globally.":[164],"Originality/value":[165],"Although":[166],"has":[168,188],"generated":[169],"much":[170],"interest":[171],"among":[172],"financial":[173],"market":[174],"players,":[175],"studies":[176],"are":[177],"lacking":[178],"how":[180],"predict":[182],"defaults":[184],"same":[190],"risk":[191],"profile":[192],"compared":[193]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":5},{"year":2019,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2018-06-21T00:00:00"}