This study contributes to the academic literature on faith-based mutual funds, by offering a comparative investigation of Islamic vs. conventional funds’ performance sensitivity changes in list seventeen relevant attributes, all context Saudi market. The measures investigated are excess return, selectivity and timing. took place from 2011 2015, with sample 200 Active 137 63 conventional. Findin...

the purpose of this study is to assess the transaction cost of borrowing from non-governmental investment development funds which are established in less than a decade. transaction costs are considered as significant and limiting factors for micro-borrowers in using formal loans. the required data are provided by the investment developing support’s parent company using the stratified random sam...

issuance value, redemption value and net value of issuance and redemption of investment units is called cash flow to mutual funds. this cash flow to mutual funds is used as an investor sentiment index, when there is significant relationship between cash flow to mutual funds and market return. in this paper, relationship between these two items is to be evaluated. monthly and weekly cash flow to...

On May 24, 2000, the Clay Mathematics Institute (CMI), inspired by the centenary of the Hilbert Challenge and seeking to put its own stamp on the new century and perhaps beyond, announced awards of one million dollars each for solutions to seven “Millennium Prize Problems” [6]. The problems selected by the CMI were neither new nor concerned with pressing practical matters. Ordinarily the popula...

 Vikas Agarwal is from Georgia State University, J. Mack Robinson College of Business, 35 Broad Street, Suite 1221, Atlanta GA 30303, USA. Email: [email protected]: +1-404-413-7326. Fax: +1-404-4137312. Vikas Agarwal is also a Research Fellow at the Centre for Financial Research (CFR), University of Cologne. ^ Yan Lu is from University of Florida, Warrington College of Business, Box 117168,...

We examine whether funds of hedge funds (FoFs) engage in costly fire sales of their hedge fund investments during the 2004–2011 period. We find that FoFs experiencing large outflows tend to liquidate holdings in funds with relatively few redemption restrictions (“liquid funds”), even when these funds perform well. A tracking portfolio that buys liquid funds involved in fire sales over the prior...

Anonymous electronic payment systems are regarded as essential for the protection of the privacy of consumers participating in electronic transactions. In this paper, we present an electronic payment scheme which allows regular customers not only to get special rates from the merchant but also to be kept anonymous to the merchant.