TY - JOUR AU - Haron, Razali AU - Adeyemi, Adewale Abideen PY - 2016/12/18 Y2 - 2024/03/28 TI - ISLAMIC CAPITAL MARKET AND DEBT FINANCING OF SHARIAH-COMPLIANT FIRMS IN INDONESIA JF - Al-Shajarah: Journal of the International Institute of Islamic Thought and Civilization (ISTAC) JA - SHAJARAH VL - 21 IS - 3 SE - ARTICLES DO - 10.31436/shajarah.v21i3.413 UR - https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/413 SP - AB - <p>Islamic Capital Market (ICM) is expanding rapidly worldwide and Indonesia is following very closely. Examining 290 shariah-compliant Indonesian firms, we found that certain firm and industry level determinants do influence the debt financing without ignoring the shariah principles governing the decisions. The ICM accelerating growth is very much reflected in the findings, thus contributing significantly in the literature and to the policymakers as well. Being shariah-compliant does not hinder them from engaging in higher debt with Islamic debt instruments employed as alternatives.</p> ER -