Publication:
A Drivers Of Islamic Bond Liquidity In Malaysia: Latent Liquidity Approach

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dc.contributor.authorRusmawati Saiden_US
dc.contributor.authorWan Nurhanan Wan Suhaimien_US
dc.contributor.authorNorhuda Abd Rahimen_US
dc.contributor.authorAsmaddy Harisen_US
dc.date.accessioned2024-05-27T14:39:51Z
dc.date.available2024-05-27T14:39:51Z
dc.date.issued2018
dc.descriptionInternational Journal of Economics and Finance; Vol. 10, No.10;2018en_US
dc.description.abstractA steady liquidity level is an importance characteristic of a financial market, especially after the 2008 financial crisis. The Islamic financial market was virtually isolated from the crisis. It is interesting to explore the underlying determinants that stabilise a market’s liquidity level. This paper studies the determinants of a Sukuk’s liquidity level in the Malaysian bond marketusing a new liquidity measure known as latent liquidity. The measure does not require transaction data, which makes it applicable to an illiquid market such as the Malaysian bond market. Utilising data from the Malaysian bond market, the paper involves two steps of data analyses, namely an insight into the trend and the liquidity level of the Sukuk market. It then continues to investigate the driver of Sukuk’s liquidity using the latent liquidity as a proxy against five Sukuk characteristics in a random effect regression model. Four variables issuance amount, maturity, coupon rate, and age are found to be significant drivers of Sukuk’s liquidity level. Conclusions drawn from the regression results indicate Sukuk’s investors’ preference in matching long term Sukuk with their long term liabilities, in addition to their fondness for keeping their Sukuk to amortise the return.en_US
dc.identifier.doi10.5539/ijef.v10n10p85
dc.identifier.epage96
dc.identifier.issn1916-9728
dc.identifier.issue10
dc.identifier.other1070-16
dc.identifier.spage85
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/3557
dc.identifier.volume10
dc.language.isoenen_US
dc.publisherCanadian Center of Science and Educationen_US
dc.relation.ispartofInternational Journal of Economics and Financeen_US
dc.subjectSukuken_US
dc.subjectIslamic bonden_US
dc.subjectliquidityen_US
dc.subjectlatent liquidityen_US
dc.subjectMalaysiaen_US
dc.titleA Drivers Of Islamic Bond Liquidity In Malaysia: Latent Liquidity Approachen_US
dc.typeArticleen_US
dspace.entity.typePublication

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