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Title: Does faith move stock markets? Evidence from Saudi Arabia
Authors: Canepa, A
Ibnrubbian, A
Keywords: Islamic religion;Stock returns;Volatility;Stochastic dominance;Saudi Arabia
Issue Date: 2014
Publisher: Elsevier
Citation: The Quarterly Review of Economics and Finance, 54(4): 538 - 550, (November 2014)
Abstract: 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.
ISSN: 1062-9769
Appears in Collections:Dept of Economics and Finance Research Papers

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