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Title: | IMPACT OF DERIVATIVES USER ON FIRMS’ PERFORMANCE OF SHARI’AH COMPLIANT FIRMS |
Authors: | Zamzamir, Zaminor Haron, Razali Ulum, Zatul Karamah Ahmad Baharul Othman, Anwar Hasan Abdullah |
Keywords: | Risk management derivatives hedging firm performance user and non-user Shari’ah-compliant firms |
Issue Date: | Apr-2022 |
Publisher: | Faculty of Economics and Business, Universiti Malaysia Sarawak |
Abstract: | The study examined the impact of derivatives usage on the performance of Shari'ah-compliant firms in Malaysia. The study employed a Generalised Method-of-Moment estimator (System-GMM) on a set of panel data from 2012 to 2017. A paired sample t-test for mean difference and a Wilcoxon Signed-ranks test was performed to examine the performance difference between users and non-users of derivatives. The study provided strong evidence of a significant difference in performance between users and non-users of derivatives. Moreover, the study observed better performance among derivative users than non-derivative users. The findings enriched the current Islamic financial market literature and contributed to a better understanding of the hedging activities among Shari’ah-compliant firms. The study offered new evidence on risk management using derivatives in the Islamic financial market. |
URI: | http://localhost:8080/xmlui/handle/123456789/12349 |
Appears in Collections: | Volume 24 No 1 (2023) |
Files in This Item:
File | Description | Size | Format | |
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amazabidin,+Vol+24-no1-paper1.pdf | 406.96 kB | Adobe PDF | View/Open |
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