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Issue in Islamic equities: a literature survey

Masih, Mansur and Mustaffa Kamil, Nazrol Kamil and Bacha, Obiyathulla Ismath (2018) Issue in Islamic equities: a literature survey. Emerging Markets Finance and Trade, 54 (1). pp. 1-26. ISSN 1540-496X

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This article reviews the current literature on Islamic equities. Our survey indicates that the bulk of articles is quantitative or empirical in nature, with a notable dearth of theoretical works. Among the common research themes explored by these articles are comparative performances of Islamic equities vis-à-vis their conventional counterparts, comparisons of Islamic portfolios with SRI funds, and empirically articulating portfolio diversification benefits associated with Islamic equities. In addition, numerous articles discuss idiosyncrasies of Shari’ah compliant stocks and portfolios under subthemes such as volatility, risk factors, and performance attributes. This survey also includes articles addressing efficiency perspectives, calendar anomalies, and issues in Shari’ah stock screening norms. We summarize general findings and offer suggestions for future research. Literature surveys on Islamic equities are few and far between, and this article, to date, represented the most recent and comprehensive attempt at that.

Item Type: Article (Journal)
Additional Information: 4979/62233
Uncontrolled Keywords: Islamic equity investment, Islamic finance, literature review, Shari’ah compliant stocks,survey
Subjects: H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
H Social Sciences > HG Finance > HG4501 Stocks, investment, speculation
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Dr. Nazrol Kamil Mustaffa Kamil
Date Deposited: 28 Feb 2018 15:52
Last Modified: 29 Oct 2018 09:11
URI: http://irep.iium.edu.my/id/eprint/62233

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