Adamu Yahaya – Recent Articles

Islamic religiosity and corporate capital structure: evidence from Malaysia
Yee Peng Chow
Afro-Asian J. of Finance and Accounting, Vol. 14, No. 2 (2024) pp. 192 - 228
This paper examines the relationship between Islamic religiosity and capital structure and how firm-specific factors, managerial characteristics and corporate governance measures moderate this relationship. This study employs the pooled ordinary least squares estimation procedure, drawing on a panel of non-financial listed firms in Malaysia. The results reveal that Islamic religiosity is positively associated with leverage as proxied by short-term, long-term and total debt ratios. Further investigation confirms that there are certain firm-specific factors (e.g., firm size and age), managerial characteristics (e.g., founder status and excessive shareholdings) and corporate governance measures (e.g., board independence and separation between the CEO and chair) which moderate the positive effects of Islamic religiosity. Several important policy implications can be drawn regarding the selection process of the firms' top executives which should consider certain managerial characteristics, the formulation of appropriate financing strategies according to the firms' characteristics and the implementation of good corporate governance measures.

Credit risk and bank performance: a Sub-Saharan African perspective
Adamu Yahaya; Fauziah Mahat; Aliyu Mamman
Afro-Asian J. of Finance and Accounting, Vol. 14, No. 2 (2024) pp. 170 - 191
Credit risk is one of the dominant risks that pose a great threat to the performance of banks. This study examines the effect of credit risk on the performance of banks in Sub-Saharan Africa (SSA). A total sample of 50 banks was drawn from six Sub-Saharan African countries which include Nigeria, Ghana, South Africa, Zambia, Kenya, and Tanzania from 2010-2018. A two-step system GMM is applied and the findings reveal a significant negative relationship between credit risk and bank performance in the SSA region. The risk committee has a significant positive impact on the performance of banks in the SSA region. Bank management is encouraged to embrace a modern and efficient credit risk management technique to have better control of the rate of credit risk experienced in banks.