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3 PLS CONTRACTS
4 THE STANDARD DEBT CONTRACTS
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adverse selection Appendix assets assumed assumptions asymmetric information behavior borrowers capital market conventional banks countries deposit rate depositors disutility dividend rate Econometrics economic development entrepreneur entrepreneur's ethics equation equity expected utility Faisal Islamic FINANCIAL CONTRACTS financial intermediaries financial markets fixed interest funds given hazard and adverse higher IFBs incentive compatibility incentive contract income increasing indicates information asymmetry interest rates interest-based financial Interest-Free Banks investor Islamic economics Islamic financial institutions KENNETH ROGOFF Khan Kuwait Finance House lender level of investment loan demand loan market loss sharing marginal Mirakhor monitoring costs moral hazard moral hazard problem Muslim Nash equilibrium Optimal Profit-Sharing Contracts Pakistan PLS contracts PLS deposits principal-agent profit and loss profit sharing rate rate of return reported return risk risk-sharing role share market shareholders Shari'ah sharing contracts sharing ratio social welfare function standard debt contracts Sudan theory value of shares variable zakah zakah tax