Islamic and conventional behavioral finance: A critical review of literature

Musse, Osman Sayid Hassan and Echchabi, Abdelghani and Abd. Aziz, Hassanuddeen (2015) Islamic and conventional behavioral finance: A critical review of literature. Journal of King Abdulaziz University: Islamic Economics , 28 (2). pp. 249-266. ISSN 7383-1018 (O),1658-4244 (P), E-ISSN 7383-1018

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Abstract

The purpose of this study is to critically analyze existing literature on behavioral finance and to draw conclusions and recommendations for future studies in this area. The study is based on a critical review of the literature of Islamic and conventional behavioral finance. The findings reveal that investors are affected by psychological and social factors toward their financial decision-making process with respect to investment and choosing a particular financial product. The paper concludes that Islamic behavioral finance is a relatively new and efforts are needed to advance work in this area compared with the more advanced conventional behavioral finance. Behavioral issues are, however, gaining considerable attention from a broad spectrum of investors, especially those in the Muslim world.

Item Type:	Article (Journal)
Additional Information:	270/50844
Uncontrolled Keywords:	Behavioral finance; Finance; Islamic finance; Psychology
Subjects:	H Social Sciences > HG Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User:	Professor Hassanuddeen Abd Aziz
Date Deposited:	31 May 2016 08:29
Last Modified:	03 Aug 2017 12:07
URI:	http://irep.iium.edu.my/id/eprint/50844

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