This study specifically investigates the effects of external governance mechanisms and regulatory settings on the profitability of Islamic banks operating in the Arab markets from 2003 to 2017. The empirical results underscore that the external governance mechanism and its dimensions in particular the political stability, regulatory quality, rule of law, and control of corruption impact Islamic banks' profitability positively. However, the regulatory settings and its sub-indices particularly the extent of disclosure and ease of shareholder suits have the opposite effect. Likewise, the results of traditional determinants indicate that the profitability of Islamic banks is shaped by the bank-specific, industry-specific, and country and global-level determinants. Results are robust and consistent with alternative estimation procedures and also support for the negative and positive effect of voice and accountability external governance's dimension and inflation, respectively. The findings of this study have important policy implications for regulators, policymakers, and banks' managers.

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外部治理和监管环境对伊斯兰银行盈利能力的影响：来自阿拉伯市场的证据

本研究专门调查了外部治理机制和监管环境对 2003 年至 2017 年在阿拉伯市场运营的伊斯兰银行盈利能力的影响。实证结果强调了外部治理机制及其维度，特别是政治稳定性、监管质量、法治和腐败控制对伊斯兰银行的盈利能力产生积极影响。然而，监管设置及其分项指数，尤其是披露程度和股东诉讼的难易程度，会产生相反的效果。同样，传统决定因素的结果表明，伊斯兰银行的盈利能力是由特定银行、特定行业、国家和全球层面的决定因素决定的。结果稳健且与替代估计程序一致，也分别支持声音和问责制外部治理维度和通货膨胀的负面和正面影响。本研究的结果对监管机构、政策制定者和银行经理具有重要的政策意义。