Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

The topic of the paper is the liquidity as the ability of firm to face at all times payment obligations arising from the unfolding of management. This ability is usually assessed with the financial statements, however, not have a short-term perspective and consider only tangible aspects. Hence...

This note discusses FX reserves management as practised by emerging market economies and, more specifically, by Saudi Arabia. It shares the Saudi Arabian Monetary Authority's experience on reserve adequacy, investment objectives, philosophy and process, portfolio tranching, risk management and...

Islamic finance came to prominence in the last two decades and Islamic instruments have been regarded as an alternative to conventional instruments after the 2008 crisis. In this study, we tried to analyze the relationship between conventional deposit rates and profit share rates of...

This study documents the literary developments and classifies the literature in the area of Islamic Financial Services Industry (IFSI). Our findings are based on articles published in selected Islamic finance specialized journals for six years (2012-2017). Classification is based on multiple...

Islamic finance has grown impressively since its modest beginnings with the establishment of Egypt's Mitt Ghamar Saving Bank in 1963. By the end of 2011, the global Islamic financial services industry was valued at $1.357 trillion, a 150 percent increase in the past five years. Yet despite this...