Indicators Effecting on evaluation of Islamic Debt securities in Iran Capital Market

Document Type : Research Paper

Authors

1 Associate Professor, faculty member of AlZahra University, Tehran, Iran

2 Assistant professor of Kharazmi University.Tehran, Iran

3 Assistant Professor, Department of Accounting, South Tehran Azad University, Tehran, Iran

Abstract

Financing through the capital market has grown considerably in recent years by developing guidelines for the publication and delivery of Islamic Bond, and has become a model for Islamic financing in the capital market, on the other hand, due to the succession of sukuk publishing in the capital market, Financing dimensions through these tools have not been completed, which is one of the most important aspects of the evaluation of debt securities issued in the capital market, among which the most important examples are the credit rating of the bonds.
Based on these findings, the present study sought to derive the indexes of Islamic-based debt calculations based on sukuk in the capital market, which have been the basis for measuring the quality of issued debt securities, and in many cases, in particular, the formulation of a rating model Credit or valuation ratings of these papers are applicable.
In this research, after studying theoretical foundations including rules and instructions of notification by the market observer institution, theoretical and scientific principles for evaluating securities and the procedures of financial institutions in the field of evaluation of securities such as credit rating agencies, indexes The evaluation of this type of securities was extracted, then the indexes were subjected to an expert opinion survey using the Delphi research method. Finally, based on the received reviews, the final indices of the evaluation of Islamic debt securities were formulated in the capital market of Iran.

Keywords

References

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History

  • Receive Date: 15 March 2019
  • Revise Date: 24 April 2020
  • Accept Date: 30 April 2020

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