This paper uses comprehensive data for 112 Islamic and 709 conventional banks from 23 countries over 1995–2015 to compare the capital structure of Islamic banks (IBs) and conventional banks (CBs) from several perspectives. We find that IBs and CBs seem to face different cost pressures in the process of adjusting towards the target capital structure. Asset growth is a key driver of capital structure change, and CBs adjust leverage more aggressively in response to changes in total assets compared to IBs, because they have an advantage in obtaining external funds and can achieve leverage adjustments faster and at a low cost. IBs have more regulatory capital, but their ability to respond to risks is weaker than traditional banks. The results of this paper suggest that Islamic banks are in a disadvantaged position compared to CBs in capital structure management. The conclusion suggests that IBs need to expand its financing tools and funding sources to reduce adjustment costs and improve their capability to deal with asset risk.

本文使用 1995-2015 年间来自 23 个国家的 112 家伊斯兰银行和 709 家传统银行的综合数据，从多个角度比较了伊斯兰银行 (IB) 和传统银行 (CB) 的资本结构。我们发现，在向目标资本结构调整的过程中，IB 和 CB 似乎面临着不同的成本压力。资产增长是资本结构变化的关键驱动力，CB 相比 IB 更积极地响应总资产的变化调整杠杆，因为它们在获得外部资金方面具有优势，可以更快、更低成本地实现杠杆调整。IB拥有较多的监管资本，但其应对风险的能力较传统银行弱。本文的结果表明，与 CB 相比，伊斯兰银行在资本结构管理方面处于不利地位。结论表明，IB需要扩大融资工具和资金来源，以降低调整成本，提高应对资产风险的能力。