Shariah-compliant firms and firm leverage: evidence from firm-level time varying quasi experimental analysis for MENA countries

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dc.contributor.authorUlussever, Talat
dc.contributor.authorDoruk, Omer Tugsal
dc.contributor.authorErtugrul, Hasan Murat
dc.contributor.authorTekdogan, Omer Faruk
dc.date.accessioned2026-02-27T07:33:25Z
dc.date.available2026-02-27T07:33:25Z
dc.date.issued2025
dc.description.abstractThis study undertakes an examination of financial leverage, synonymous with firm risk or capital structure, within the context of Shariah-compliant firms. Analyzing firm-level data covering 500 nonfinancial firms across 9 MENA countries, this research employs a time-varying quasi-experimental approach to delve into the primary objective of assessing the comparative financial leverage or capital structure of Shariah-compliant firms concerning their non-Shariah counterparts. We employ time-varying quasi-experimental methods, namely time-varying difference-in-differences methodology, to explore the relative time-varying effect of Shariah-compliance on the firm leverage in the MENA Region. The results unequivocally highlight a distinct trend that the Shariah-compliant firms exhibit notably lower financial leverage compared to their non-Shariah counterparts, even if we consider the time-varying Shariah-compliance dimension. These findings, substantiated through robust modeling techniques, offer compelling insights into the financial dynamics and risk profiles of Shariah-compliant entities across the MENA region.
dc.identifier.doi10.1057/s41599-025-05001-9
dc.identifier.issn2662-9992
dc.identifier.issue1
dc.identifier.urihttp://dx.doi.org/10.1057/s41599-025-05001-9
dc.identifier.urihttps://hdl.handle.net/20.500.14669/4557
dc.identifier.volume12
dc.identifier.wosWOS:001580397200007
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherSpringer Nature
dc.relation.ispartofHumanities & Social Sciences Communications
dc.relation.publicationcategoryMakale - Uluslararas� Hakemli Dergi - Kurum ��retim Eleman�
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20260302
dc.titleShariah-compliant firms and firm leverage: evidence from firm-level time varying quasi experimental analysis for MENA countries
dc.typeArticle

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