Monthly Archives: October 2017

Category:Blog

The problem

Let’s say that we have daily stock returns. We want to convert those returns to cumulative returns for a weekly, monthly or yearly frequency.

Where cumulative returns = (1+Ri1) * (1+Ri2) * (1+R3) * … (1+R4) – 1

Solution

First create the weekly, monthly or year identifier, and then use asrol program.

```input id str20 D returns
1 30jun1993 .7437958
1 02jul1993 .0674011
1 06jul1993 .2668857
1 14jul1993 .0454151
1 19jul1993 .1340756
1 29jul1993 .8053644
1 13aug1993 .5861199
1 24sep1993 .3200437
1 19oct1993 .0098762
1 19oct1993 .005197
end
g date = date(D, "DMY")
drop D```

Find weekly cumulative returns

Let us first install asrol from ssc

`ssc install asrol`

Now create weekly date

`gen week = wofd(date)`

Now find the returns using asrol

`bys id week :  asrol returns, stat(product) add(1)`

Note : add(1) adds 1 with each returns before multiplication and then subtracts 1 at the end.

Find monthly cumulative returns

```gen month = mofd(date)
bys id month:  asrol returns, stat(product) add(1)```

Find yearly cumulative returns

``` gen year= year(date)
bys id year:  asrol returns, stat(product) add(1)```

Research Topics in Islamic Banking and Finance

Category:Uncategorized

How Islamic financial instruments can be used in international trade?

A mechanism for inter-bank transactions for Islamic and conventional banks

Can Sharia board play a role in the development of Islamic instruments?

Tawarruq as a tool of inter-bank borrowing

Risk management framework for Islamic banks: do we need something special?

Have the challenges faced by Islamic banks changed over the last decade?

The dynamics of financial crisis: Conventional vs Islamic finance

Can Zakat be used as a microfinancing tools?

Value at Risk of Sukuk and conventional bonds

Risk analysis of Murabaha financing and leasing

What customers say about Islamic banking? Values vs religious perspectives

Can ownership structure affect earning management?

Collaborative Islamic Banking Service: The Case of Ijarah

Success factors of collaboration in Islamic banks

Constraints in the application of partnerships in Islamic banks

Can Islamic finance reduce nonperforming loans?

Which firms use Islamic financing?

Can SME’s benefit more from Islamic financing?

Islamic finance and economic growth

Research Topics in Finance: Earning Management

Category:Uncategorized

The relationship between earning management and market liquidity

Are top management pays and earning management practices related?

Can financial crisis affect earning management practices?

The effect of the earning transparency on cost of capital

The impact of leverage on accrual-based earnings management

Can institutional investors exploit the accrual anomaly?

Accrual-based and real earnings management: Are investors protected?

Cost of capital and earnings transparency

The effect of accounting comparability on the accrual-based and real earnings management

Earnings management and accrual anomaly across market states and business cycles

Short-term debt maturity, monitoring and accruals-based earnings management

The effect of mandatory IFRS adoption on real and accrual-based earnings management activities

Can ownership structure affect earning management?

Regulatory Risk and the Cost of Capital

Accrual-based and real earnings management activities around seasoned equity offerings

Time-varying risk, mispricing attributes, and the accrual premium

Accruals, cash flows, and operating profitability in the cross section of stock returns

Does family involvement explain why corporate social responsibility affects earnings management?

How excess control and earning management practices are related?

Managerial entrenchment and earnings management

Product market competition and earnings management

Research Topics in Finance | Financing / Capital Structure Choices

Category:Blog

In this blog post, I would like to present a list of research topics related to financing or capital structure decisions.

Top managers experiences and firms’ capital structure choices

Do macroeconomic factors affect the choice of debt /equity financing? How are small firms affected?

Supply of capital and debt-equity choices

Persistence in capital structure decisions?

Can earning timing affect capital structure decisions?

Can stock return shocks affect capital structure decisions?

Effects of Capital Structure on Cost of Capital

judicial efficiency and capital structure: is there a relation?

Cultural and religious effects on capital structure choices

Credit market imperfections and capital structure changes

How corporate governance affect capital structure decisions

How financial crisis plays a role in altering capital structures

Country tax system and capital structure choices

Information asymmetries and capital structure decisions around the world

Product market competition and capital structure decisions