Islamic vs. Conventional Equity Indices and Investor Sentiments

被引:0
作者
Hapibah, Ume [1 ]
Rajput, Suresh Kumar Oad [2 ]
Iqbal, Muhammad Shahid [3 ]
机构
[1] Air Univ Multan, Multan, Pakistan
[2] Sukkur IBA Univ, Sukkur, Pakistan
[3] Univ Sargodha, Sargodha, Pakistan
来源
TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE | 2021年
关键词
Investor Sentiments; Islamic-equity-indices; Conventional-equity-indices; Johansen Co-integration; Autoregressive-distributed-lag (ADRL) model; ECONOMIC-GROWTH; CROSS-SECTION; COINTEGRATION; FEAR; VOLATILITY; RETURNS; MARKETS; CRISIS; MODEL; DEPENDENCE;
D O I
10.26414/A3410
中图分类号
F [经济];
学科分类号
02 ;
摘要
Purpose: This paper aims to empirically investigate the equity-sentiment relationship along with making a comparison between the Islamic equity indices with conventional ones. Methodology: To achieve the research objects, different models are applied including Ordinal Least square, Granger Causality test, Johansen cointegration, and Autoregressive distributed lag (ADRL) model. Findings: Results show that investor sentiments explain both Islamic and conventional equity indices. Further, it could also be concluded from the results that Islamic-equity-indices don't behave differently as compared to conventional equity-indices. Originality: This study adds in literature, based on the empirical findings, that on the Islamic and conventional equity sentiment rela tionship, Sharia screening criteria don't play any significant role.
引用
收藏
页数:20
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