{"id":"https://openalex.org/W4285083035","doi":"https://doi.org/10.1108/imefm-06-2021-0239","title":"Capital structure dynamics of Shariah-compliant vs noncompliant firms: evidence from Pakistan","display_name":"Capital structure dynamics of Shariah-compliant vs noncompliant firms: evidence from Pakistan","publication_year":2022,"publication_date":"2022-07-13","ids":{"openalex":"https://openalex.org/W4285083035","doi":"https://doi.org/10.1108/imefm-06-2021-0239"},"language":"en","primary_location":{"id":"doi:10.1108/imefm-06-2021-0239","doi":"https://doi.org/10.1108/imefm-06-2021-0239","is_oa":false,"landing_page_url":"https://doi.org/10.1108/imefm-06-2021-0239","pdf_url":null,"source":{"id":"https://openalex.org/S157427695","display_name":"International Journal of Islamic and Middle Eastern Finance and Management","issn_l":"1753-8394","issn":["1753-8394","1753-8408"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","jufo-1","norway-1","poland-70","russia-white-list-1"],"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":"International Journal of Islamic and Middle Eastern Finance and Management","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/A5045147952","display_name":"Saeed Akbar","orcid":"https://orcid.org/0000-0003-0413-9395","observed_orcids":["https://orcid.org/0000-0003-0413-9395"]},"institutions":[{"id":"https://openalex.org/I181063083","display_name":"Abdul Wali Khan University Mardan","ror":"https://ror.org/03b9y4e65","country_code":"PK","type":"education","lineage":["https://openalex.org/I181063083"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Saeed Akbar","raw_affiliation_strings":["Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","institution_ids":["https://openalex.org/I181063083"]},{"raw_affiliation_string":"Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan","institution_ids":["https://openalex.org/I181063083"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5063886067","display_name":"Shehzad Khan","orcid":"https://orcid.org/0000-0002-5571-8883","observed_orcids":["https://orcid.org/0000-0002-5571-8883"]},"institutions":[{"id":"https://openalex.org/I181063083","display_name":"Abdul Wali Khan University Mardan","ror":"https://ror.org/03b9y4e65","country_code":"PK","type":"education","lineage":["https://openalex.org/I181063083"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Shehzad Khan","raw_affiliation_strings":["Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","institution_ids":["https://openalex.org/I181063083"]},{"raw_affiliation_string":"Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan","institution_ids":["https://openalex.org/I181063083"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5029919389","display_name":"Zahoor Ul Haq","orcid":"https://orcid.org/0000-0001-6813-6746","observed_orcids":["https://orcid.org/0000-0001-6813-6746"]},"institutions":[{"id":"https://openalex.org/I181063083","display_name":"Abdul Wali Khan University Mardan","ror":"https://ror.org/03b9y4e65","country_code":"PK","type":"education","lineage":["https://openalex.org/I181063083"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Zahoor Ul Haq","raw_affiliation_strings":["Abdul Wali Khan University Mardan Department of Economics, Pakhtunkhwa Economic Policy Research Institute (PEPRI), , Mardan,","Department of Economics, Pakhtunkhwa Economic Policy Research Institute (PEPRI), Abdul Wali Khan University Mardan, Mardan, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Abdul Wali Khan University Mardan Department of Economics, Pakhtunkhwa Economic Policy Research Institute (PEPRI), , Mardan,","institution_ids":["https://openalex.org/I181063083"]},{"raw_affiliation_string":"Department of Economics, Pakhtunkhwa Economic Policy Research Institute (PEPRI), Abdul Wali Khan University Mardan, Mardan, Pakistan","institution_ids":["https://openalex.org/I181063083"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5037517844","display_name":"Muhammad Ibrahim Khan","orcid":"https://orcid.org/0000-0002-5734-3667","observed_orcids":["https://orcid.org/0000-0002-5734-3667"]},"institutions":[{"id":"https://openalex.org/I181063083","display_name":"Abdul Wali Khan University Mardan","ror":"https://ror.org/03b9y4e65","country_code":"PK","type":"education","lineage":["https://openalex.org/I181063083"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Muhammad Ibrahim Khan","raw_affiliation_strings":["Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Abdul Wali Khan University Mardan Institute of Business Studies and Leadership, , Mardan,","institution_ids":["https://openalex.org/I181063083"]},{"raw_affiliation_string":"Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, Mardan, Pakistan","institution_ids":["https://openalex.org/I181063083"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I181063083"],"apc_list":null,"apc_paid":null,"fwci":7.7064,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":{"value":0.97210863,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"16","issue":"2","first_page":"366","last_page":"383"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.9038000106811523,"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":0.9038000106811523,"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/T10019","display_name":"Corporate Finance and Governance","score":0.07249999791383743,"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/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.00559999980032444,"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/capital-structure","display_name":"capital structure","score":0.9039999842643738},{"id":"https://openalex.org/keywords/shariah-compliant-companies","display_name":"Sharia-compliant companies","score":0.9409999847412109},{"id":"https://openalex.org/keywords/leverage-determinants","display_name":"leverage determinants","score":0.8399999737739563},{"id":"https://openalex.org/keywords/capital-structure-adjustment-speed","display_name":"capital structure adjustment speed","score":0.8339999914169312},{"id":"https://openalex.org/keywords/target-leverage-ratio","display_name":"target leverage ratio","score":0.753000020980835},{"id":"https://openalex.org/keywords/islamic-finance","display_name":"Islamic finance","score":0.609000027179718},{"id":"https://openalex.org/keywords/pakistan-stock-exchange","display_name":"Pakistan Stock Exchange","score":0.8460000157356262}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.7057717442512512},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.6682597994804382},{"id":"https://openalex.org/C27158222","wikidata":"https://www.wikidata.org/wiki/Q5532422","display_name":"Generalizability theory","level":2,"score":0.6201479434967041},{"id":"https://openalex.org/C2776950860","wikidata":"https://www.wikidata.org/wiki/Q2914681","display_name":"Originality","level":3,"score":0.6161609292030334},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5483074188232422},{"id":"https://openalex.org/C84566663","wikidata":"https://www.wikidata.org/wiki/Q2738224","display_name":"Operating leverage","level":3,"score":0.5163070559501648},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5115721821784973},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4579050540924072},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.358702689409256},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3513241410255432},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.340628057718277},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20404979586601257},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.17000937461853027},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.1268133521080017},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.08923676609992981},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.0},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0},{"id":"https://openalex.org/C11012388","wikidata":"https://www.wikidata.org/wiki/Q170658","display_name":"Creativity","level":2,"score":0.0},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/imefm-06-2021-0239","doi":"https://doi.org/10.1108/imefm-06-2021-0239","is_oa":false,"landing_page_url":"https://doi.org/10.1108/imefm-06-2021-0239","pdf_url":null,"source":{"id":"https://openalex.org/S157427695","display_name":"International Journal of Islamic and Middle Eastern Finance and Management","issn_l":"1753-8394","issn":["1753-8394","1753-8408"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","jufo-1","norway-1","poland-70","russia-white-list-1"],"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":"International Journal of Islamic and Middle Eastern Finance and Management","raw_type":"journal-article"},{"id":"pmh:oai:www.open-access.bcu.ac.uk:14684","doi":null,"is_oa":false,"landing_page_url":"https://www.open-access.bcu.ac.uk/14684/1/PDF_Proof%20%281%29.PDF","pdf_url":"https://www.open-access.bcu.ac.uk/14684/1/PDF_Proof%20%281%29.PDF","source":{"id":"https://openalex.org/S4306402654","display_name":"BCU Open Access Repository (Birmingham City University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I12870472","host_organization_name":"Birmingham City University","host_organization_lineage":["https://openalex.org/I12870472"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"Article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":48,"referenced_works":["https://openalex.org/W1496286215","https://openalex.org/W1546993880","https://openalex.org/W1568102150","https://openalex.org/W1823890749","https://openalex.org/W1856847752","https://openalex.org/W1949557079","https://openalex.org/W1999312708","https://openalex.org/W2000578291","https://openalex.org/W2005435342","https://openalex.org/W2023668736","https://openalex.org/W2025610165","https://openalex.org/W2028995298","https://openalex.org/W2031066864","https://openalex.org/W2034625637","https://openalex.org/W2037237598","https://openalex.org/W2037841399","https://openalex.org/W2063955807","https://openalex.org/W2074928461","https://openalex.org/W2091596451","https://openalex.org/W2107565995","https://openalex.org/W2112389054","https://openalex.org/W2121308228","https://openalex.org/W2140041112","https://openalex.org/W2143437037","https://openalex.org/W2157005718","https://openalex.org/W2158106972","https://openalex.org/W2261483992","https://openalex.org/W2263782048","https://openalex.org/W2406261965","https://openalex.org/W2592151988","https://openalex.org/W2608664669","https://openalex.org/W2617312578","https://openalex.org/W2752617332","https://openalex.org/W2858599804","https://openalex.org/W2892696382","https://openalex.org/W2893411726","https://openalex.org/W2927118230","https://openalex.org/W2948832353","https://openalex.org/W2972847363","https://openalex.org/W3009849593","https://openalex.org/W3080446955","https://openalex.org/W3092330053","https://openalex.org/W3093735665","https://openalex.org/W3124114405","https://openalex.org/W3124450204","https://openalex.org/W3124871904","https://openalex.org/W3125649736","https://openalex.org/W4312807907"],"related_works":["https://openalex.org/W2858599804","https://openalex.org/W4385897254","https://openalex.org/W3080446955","https://openalex.org/W2927118230","https://openalex.org/W4413038831","https://openalex.org/W4393270644","https://openalex.org/W3107516145","https://openalex.org/W2948832353","https://openalex.org/W4417103407","https://openalex.org/W4409647374"],"abstract_inverted_index":{"Purpose":[0],"This":[1,23,69,168,204],"study":[2,24,70,169,192,205,255,287],"aims":[3],"to":[4,65,77,97,195,289,305,324],"compare":[5],"capital":[6,30,83,181,224,260,297],"structure":[7,31,84,182,261,298],"determinants'":[8],"effect":[9,101,271],"on":[10,40,58,105,272],"the":[11,29,41,59,72,79,87,93,100,103,106,137,160,171,180,185,208,234,244,247,252,258,273,296,326],"leverage":[12,107,126,146,274],"levels":[13,127],"of":[14,50,75,82,89,102,140,179,184,210,246,275,283,293,300,328],"Shariah-compliant":[15],"(SC)":[16],"and":[17,27,53,85,112,129,187,212,265,268],"noncompliant":[18],"(NC)":[19],"firms":[20,56,142,214,267,302,307],"in":[21,159,221,233,240],"Pakistan.":[22],"also":[25,134,228,315],"estimates":[26],"compares":[28],"adjustment":[32,138],"speed":[33,88,139],"for":[34,110,230,263],"both":[35,123,276],"firm":[36,124,277],"types.":[37,278],"Design/methodology/approach":[38],"Based":[39],"Karachi":[42],"Meezan":[43],"Index":[44],"screening":[45,164,237,322],"criterion,":[46],"a":[47,176],"balanced":[48],"panel":[49],"117":[51],"SC":[52,111,141,186,211,264,301],"68":[54],"NC":[55,152,266,306],"listed":[57],"Pakistan":[60],"Stock":[61],"Exchange":[62],"from":[63],"2008":[64],"2018":[66],"was":[67,95,157],"constituted.":[68],"used":[71,96],"generalized":[73],"method":[74],"moments":[76],"identify":[78],"significant":[80,155,259],"determinants":[81,104,121,262,299],"estimate":[86],"adjustment.":[90],"In":[91],"addition,":[92],"F-test":[94],"check":[98],"whether":[99],"is":[108,148,193,251],"same":[109,284],"non-SC":[113,188,213],"firms.":[114,189],"Findings":[115],"The":[116,132,226,313],"authors":[117,133,314],"found":[118,135],"that":[119,136,256],"different":[120,163,235,311],"affect":[122],"types'":[125],"(book":[128],"market)":[130],"differently.":[131],"toward":[143],"their":[144,151,223,270,317,329],"target":[145],"ratio":[147],"slower":[149],"than":[150],"peers.":[153],"Lastly,":[154],"variation":[156],"observed":[158],"results":[161],"under":[162],"criteria.":[165],"Research":[166],"limitations/implications":[167],"fills":[170],"literature":[172],"gap":[173],"by":[174],"providing":[175],"comprehensive":[177],"comparison":[178],"decisions":[183],"Because":[190],"this":[191,250,286],"limited":[194],"Pakistan,":[196],"generalizability":[197],"would":[198],"be":[199],"an":[200],"issue.":[201],"Practical":[202],"implications":[203],"will":[206],"guide":[207],"management":[209],"about":[215],"which":[216],"factors":[217],"are":[218,303],"reliably":[219],"important":[220],"choosing":[222],"structure.":[225],"findings":[227],"call":[229],"bringing":[231],"harmony":[232],"Shariah":[236,294],"criteria":[238,323],"being":[239],"practice.":[241],"Originality/value":[242],"To":[243],"best":[245],"authors\u2019":[248],"knowledge,":[249],"first":[253],"comparative":[254],"identifies":[257],"investigates":[269],"By":[279],"testing":[280],"joint":[281],"hypotheses":[282],"relationship,":[285],"seeks":[288],"determine":[290],"if,":[291],"because":[292],"restrictions,":[295],"similar":[304],"or":[308],"they":[309],"exhibit":[310],"behavior.":[312],"repeat":[316],"analysis":[318],"using":[319],"other":[320],"prominent":[321],"assess":[325],"consistency":[327],"results.":[330]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":6}],"updated_date":"2026-10-25T09:29:13.331239","created_date":"2022-07-14T00:00:00"}
