Publication:

Ethical investments and financial performance: an international evidence

Show simple item record
DC FieldValue
dc.contributor.authorChoudhary Wajahat Naeem Azmi
dc.contributor.authorMohamed Eskandar Shah Mohd Rasid
dc.contributor.authorShamsher Mohamad Ramadili Mohd
dc.date.accessioned2019-11-11T07:36:29Z
dc.date.available2019-11-11T07:36:29Z
dc.date.issued2019
dc.description.abstractThis paper examines the financial performance of ethical funds in different regions and concludes that there is a cost attached to ethical investing. An analysis of 964 mutual funds comprising of Socially responsible funds (SRFs) and the Shariah-compliant equity funds (SCFs) suggests that: a) except for global funds, both types of funds underperform in the market, b) both types of funds are preferred for investment in growth and momentum stocks, c) SRFs are preferred for small capitalized stocks whereas SCFs do not follow any specific style or investment strategy, d) unlike SRFs, SCFs do not provide a safe haven for investors during crises. These findings are probably due to the lack of diversification opportunities and poor managerial skills. The results are robust to various asset pricing models and macroeconomic factors.en_US
dc.identifier.citationNaeem Azmi, C. W., Ramadili Mohd, S. M., & Mohd Rasid, M. E. S. (2020). Ethical investments and financial performance: an international evidence. Pacific-Basin Finance Journal, 62. https://doi.org/10.1016/j.pacfin.2019.05.005en_US
dc.identifier.doihttps://doi.org/10.1016/j.pacfin.2019.05.005
dc.identifier.issn0927-538X
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3126
dc.languageEnglish
dc.language.isoengen_US
dc.publisherElsevier B.V.en_US
dc.rights2019. B.V. Elsevier
dc.sourceSEDONA
dc.subjectEthical fundsen_US
dc.subjectPerformance evaluationen_US
dc.subjectMacroeconomic factorsen_US
dc.subjectShariah compliant fundsen_US
dc.subjectSocially responsible fundsen_US
dc.subjectManagerial skillsen_US
dc.titleEthical investments and financial performance: an international evidenceen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic capital marketsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication.latestForDiscovery33b91dde-0170-454c-8f2b-ec4b208837b9
Appears in Collections
Journal Article
Files

Abstract View

2653748

View & Download

167800