Herding and financial decision: proposing an Islamic model of tabayyun

Che Mohd Salleh, Marhanum and Mohd Nasarudin, Ahmad Fawwaz (2020) Herding and financial decision: proposing an Islamic model of tabayyun. Empirical Economics Letters, 19 (10). pp. 1243-1251. ISSN 1681 8997

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Abstract

This paper proposes an Islamic model of Tabayyun to deal with information especially with regard to financial decisions. It enhances the literature by adding the jurisdictions and perspective of Islamic laws on herding behavior. Relying on the primary sources of the Shariah which are related Quranic verses, hadith, as well as Islamic legal maxims (Qawaid Fiqhiyyah) to explain the proposed model of Tabayyun (decision-making process). The paper proposes a Tabayyun Model which is based on the Quranic verses and Hadith, as well as Islamic legal maxims as guidelines for the decision making process. Overall, it is imperative to discuss herding behaviour from the Islamic perspective as Muslim nowadays are more relying on worldly sources rather than return to the ultimate sources of Islam to make any judgment and decision

Item Type:	Article (Journal)
Additional Information:	7732/85623
Uncontrolled Keywords:	Herding Behaviour, Islamic Perspective, Behavioural Finance, Financial Decision, Tabayyun Model
Subjects:	BPH Islamic Economics
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Finance Kulliyyah of Economics and Management Sciences
Depositing User:	Dr Ahmad Fawwaz Mohd Nasarudin
Date Deposited:	04 Dec 2020 10:03
Last Modified:	04 Dec 2020 10:03
URI:	http://irep.iium.edu.my/id/eprint/85623

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