Which creates more value for investors in equity funds: being socially responsible or Shariah compliant?
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This thesis is structured into three essays. The first essay provides evidence on the comparative risk-return profile and investment style of SCFs and the SRFs. As the long list of literature claims the superiority of these funds during the crisis period, the validity of this claim is also examined using a larger sample and a longer analysis period. The findings of this research can be summarized as follows; first, both types of funds underperform the market suggesting there is cost attached to ethical and religious based investment but SCFs, to some extent, manage to do better than the SRFs. Second, in terms of investment style, SRFs investments are biased towards small capitalized stocks whereas SCFs do not follow any specific strategy ...
Shariah-compliant funds (SCFs) , Socially responsible funds (SRFs)
Naeem Azmi, C. W. (2016). Which creates more value for investors in equity funds: being socially responsible or Shariah compliant? (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/2402