Stock in the Sharia Economic Perspective

Sharia Stock Screening: A Fund Manager's Conundrum

A fund manager has to abide by a set of business and financial parameters before selecting and including a particular stock in an Islamic fund portfolio. There are various Islamic screening methods followed by stock indices and banks, namely Dow Jones Islamic Market Index (DJIMI), FTSE Global Islamic Index Series, S&P 500, MSCI (Morgan Stanley Capital International) and Accounting and Auditing ...

Economic Forces and the Stock Market: an International Perspective

At the heart of any asset pricing theory is the view that a few pervasive factors are the dominant source of covariation among asset returns. While the existence of such systematic state variables is implied by comovements of asset prices, the theoretical asset pricing models do not (and perhaps cannot) provide an identity of these exogeneous economic forces. In light of this, empirical studies...

Economic Exposure of Stock Returns in an Emerging Stock Market

The objective of the study is to examine the stock returns variation to specific economic variables by applying multi-factor model developed under Arbitrage Pricing Theory. The variables in the model are descriptive of the market and economic conditions of the country. The study attempts to determine which, if any, of the variables are of use in explaining the variability of stock returns of Pa...

Sultans, the Sharia and Seven Empty Ears: Economic Catastrophes, Church and State

This paper uses over 700 years of Nile ‡ood data and a novel data set on the tenure of Egyptian political and religious leaders to investigate how economic shocks a¤ected the balance of power between “church”and “state” in pre-modern Egypt. Results suggest that while deviant Nile ‡oods increased political instability, such ‡oods decreased the likelihood of a change in the highest ranking religi...

Banks, Stock Market And Economic Growth: The Case Of Iran