Does Faith Matter in Mutual Funds Investing? Evidence from Saudi Arabia

Autor:	Hesham Merdad, M. Kabir Hassan, Mohsin Khawaja
Rok vydání:	2015
Předmět:	Fund of funds 050208 finance business.industry media_common.quotation_subject 05 social sciences Islam Accounting Sample (statistics) Market trend Islamic finance Faith 0502 economics and business Business 050207 economics General Economics Econometrics and Finance Finance Mutual fund media_common
Zdroj:	Emerging Markets Finance and Trade. 52:938-960
ISSN:	1558-0938 1540-496X
DOI:	10.1080/1540496x.2015.1025655
Popis:	This article investigates one of the most vital issues in the Islamic mutual fund literature: Are there any costs associated with investing in Islamic mutual funds? We used a unique sample of 143 Saudi mutual funds and grouped them into portfolios based on their geographical focus, Shariah compliance, and the Saudi market trend (overall, bull, bear, and the crisis period). Findings suggest there is a benefit from adhering to Shariah law in locally-focused Saudi mutual funds. However, there is a cost of this adherence in internationally-focused Saudi mutual funds. Finally, in Arab-focused Saudi mutual funds, there is neither a cost nor a benefit.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b761750397bba3e53cc46e5ca5b0cd26 https://doi.org/10.1080/1540496x.2015.1025655 Zobrazit plný text záznamu