Does faith move stock markets? Evidence from Saudi Arabia

被引：38

作者：

Canepa, Alessandra ^{[1
]}

Ibnrubbian, Abdullah ^{[2
]}

机构：

[1] Brunel Univ, London, England

[2] Inst Publ Adm, Riyadh, Saudi Arabia

来源：

QUARTERLY REVIEW OF ECONOMICS AND FINANCE | 2014年 / 54卷 / 04期

关键词：

Islamic religion; Stock returns; Volatility; Stochastic Dominance; Saudi Arabia;

D O I：

10.1016/j.qref.2014.04.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the effects of religious beliefs on stock prices. Our findings support the viewpoint that the religious tenets have important bearing on portfolio choices of investors. It is found that Shariah-compliant stocks have higher return and volatility than their non-Shariah compliant counterparts. Crown Copyright (C) 2014 Published by Elsevier B.V. on behalf of the Board of Trustees of the University of Illinois. All rights reserved.

引用

页码：538 / 550

页数：13

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