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    <title>EconStor Collection:</title>
    <link>https://hdl.handle.net/10419/340200</link>
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        <rdf:li rdf:resource="https://hdl.handle.net/10419/340628" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/340600" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/340658" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/340625" />
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    <dc:date>2026-05-02T16:49:11Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/340628">
    <title>Family businesses in the GCC: What drives their capital structure?</title>
    <link>https://hdl.handle.net/10419/340628</link>
    <description>Title: Family businesses in the GCC: What drives their capital structure?
Authors: Yousif, Abdelbagi Abdalla; Ahmed, Ibrahim El Siddig; Jafeel, Adam Yahya
Abstract: This study examines the determinants of the capital structure at family-owned businesses in the member countries of the Gulf Cooperation Council (GCC), focusing on internal company characteristics and their impact on leverage decisions. It analyzes panel data on 99 family-owned companies in the London Stock Exchange Group (LSEG) database (2015-2023), using fixed-effects regression and instrumental variable-two-stage least squares (IV-2SLS) approaches to address potential endogeneity. The findings reveal that profitability and sales growth negatively impact leverage, supporting the pecking order theory, while asset tangibility and firm size positively influence leverage. Liquidity, the market-to-book value, and firm age become significant, with different effects in addressing endogeneity. The interest rate negatively predicts leverage, whereas regulatory quality contributes to an increase in the size of leverage. This study contributes to the sparse research on the determinants of the capital structure at GCC family businesses by providing insights into how family ownership influences financing decisions in gulf countries and examining the relevance of capital-structure theories in this context. The findings offer valuable insights for family business owners, managers, and policy makers in the GCC, contributing to effective financial management, succession planning, and the long-term sustainability of family businesses.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/340600">
    <title>Climate change governance, Shariah governance quality, and financed emission mitigation: Evidence from Islamic banks in Southeast and West Asia</title>
    <link>https://hdl.handle.net/10419/340600</link>
    <description>Title: Climate change governance, Shariah governance quality, and financed emission mitigation: Evidence from Islamic banks in Southeast and West Asia
Authors: Issa, Saheed Olanrewaju; Alabi, Abdulkadri Toyin; Ubandawaki, Abdulbaki Teniola
Abstract: The financial sector holds major responsibility in climate mitigation, as the proliferation of environmental damage within the real economy largely stems from the negative externalities of the financial economy. Islamic banking, as a subset of the global financial market, is often adjudged as a promoter of ethical practices. This study investigates how climate governance mechanisms and Shariah governance quality influence Islamic banks' mitigation of financed emissions. Data was obtained from the LSEG database and the annual reports of 28 sampled Islamic banks covering the period of 2019-2023. The results of logistic regression indicate that sustainability committees, sustainability reporting, and Shariah governance quality positively affect financed emission mitigation in Islamic banks. This study therefore recommends for Islamic banks to adopt robust climate governance mechanisms, as well as for regulators to institutionalize policies mandating sustainable finance.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/340658">
    <title>Dynamic market efficiency assessment in sustainability indices: Rolling fractional integration analysis with multiple estimators</title>
    <link>https://hdl.handle.net/10419/340658</link>
    <description>Title: Dynamic market efficiency assessment in sustainability indices: Rolling fractional integration analysis with multiple estimators
Authors: Gönül, İbrahim Ömer; Omay, Tolga
Abstract: This study develops a comprehensive econometric framework for assessing market efficiency in sustainability indices through rolling fractional integration analysis. We employ four fractional integration estimators (Andrews-Guggenberger, Robinson GSE, GPH, and FELW) with formal statistical testing, addressing critical methodological gaps including single estimator dependency and static analysis approaches. Applied to 17 sustainability indices across 13 countries, our results reveal significant heterogeneity in market efficiency evolution. Developed markets exhibit timevarying efficiency patterns with periodic inefficiencies driven by institutional rebalancing dynamics, while emerging markets demonstrate superior efficiency characteristics. The BIST Sustainability Index exhibits exceptional efficiency, while the SP 500 ESG Screened Index shows the highest inefficiency levels among developed markets. The convergent validity between fractional integration and traditional unit root tests provides robust methodological validation. Our findings establish unprecedented robustness in sustainability market efficiency research while providing policy implications for financial regulators and investment managers.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/340625">
    <title>The moderating role of audit quality in the relationship between ESG practices and the cost of capital: Evidence from the United Kingdom</title>
    <link>https://hdl.handle.net/10419/340625</link>
    <description>Title: The moderating role of audit quality in the relationship between ESG practices and the cost of capital: Evidence from the United Kingdom
Authors: Hazaea, Saddam A.; Cai, Chun; Khatib, Saleh F. A.; Hael, Mohammed
Abstract: This study investigates the impact of environmental, social, and governance (ESG) performance on the cost of capital, using a sample of 406 non-financial companies in the United Kingdom from 2014 to 2023. We examined how ESG performance and audit quality influence the cost of equity (CoE), cost of debt (CoD), and weighted average cost of capital (WACC). The findings reveal a significant negative relationship between ESG performance and all three measures, indicating that strong ESG practices can reduce financing costs. Additionally, higher audit fees are positively associated with WACC and CoE, with a particularly pronounced effect on CoD. Engagement with Big 4 auditors moderates these relationships. Overall, the results demonstrate that ESG performance not only enhances corporate reputation and sustainability but also delivers financial advantages by lowering the cost of capital. These insights have significant implications for corporate financing decisions and provide guidance for managers, investors, policymakers, regulators, and government entities.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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