Do Islamic stock indices perform better than their conventional counterparts?

Abdelbari El Khamlichi, Selim Baha Yildiz, Kabir Sarkar and Hafiz Hoque

International Journal of Business Performance Management, 2021, vol. 22, issue 2/3, 236-256

Abstract: Applying the preference ranking organisation method for enrichment of evaluations (PROMETHEE II), this study attempts to rank Islamic and conventional indices from 20 developed and 18 emerging markets based on the performance of their MSCI conventional and Islamic country indices between 2002 and 2016. The study finds that the Danish Islamic Index at the top of the ranking and the Hungarian Islamic Index at the bottom. Moreover, conventional indices predominantly perform better than their Islamic counterparts in emerging markets and vice versa in developed markets.

Keywords: performance measurement; ranking; Islamic finance; equity indices; screening; portfolio management; decision making; PROMETHEE II. (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=116417 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbpma:v:22:y:2021:i:2/3:p:236-256

Access Statistics for this article

More articles in International Journal of Business Performance Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().