Islamic vs. Conventional Equity Indices and Investor Sentiments
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-Causal...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
İLKE İlim Kültür Eğitim Vakfı
2023-02-01
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| Series: | Türkiye İslam İktisadı Dergisi |
| Subjects: | |
| Online Access: | https://tujise.org/content/6-issues/20-10-1/3-islamic-vs-conventional-equity-indices-and-investor-sentiments/tujise-a3410.pdf |
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| Summary: | 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 relationship, Sharia screening criteria don’t play any significant role. |
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| ISSN: | 2148-3809 |