The Disclosure Practices of Islamic Equity Funds

Yunieta Anny Nainggolan and Irwan Trinugroho

Emerging Markets Finance and Trade, 2018, vol. 54, issue 5, 1132-1149

Abstract: We investigate the disclosure practices of screening and compliance information of Islamic equity funds around the world. Disclosures on Sharia advisors and screening information are quite high, but they are lower for compliance information such as Sharia advisory report (SAR) and holdings data. The results show that younger funds with better Sharia advisory board (SAB) governance which are domiciled in countries belonging to an Islamic international standard-setter body have the highest disclosure levels. However, funds domiciled in countries with a central SAB and following common law disclose less Sharia-related information. These findings are important for the effectiveness of disclosure framework.

Date: 2018
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DOI: 10.1080/1540496X.2018.1436438

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