Behavioral aspects of religiosity in finance: a brief survey on conventional versus Islamic finance

Huseyin Ozturk

No 787, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: Religious beliefs are accepted to be one of the main motivations for financial actions. The economic theory fails to provide an adequate foundation to study the link between religiosity and economic behavior. A number of empirical studies discusses the role of religion on the financial behavior of economic agents yet more research needs to be conducted. This study provides a brief review on how religiosity might affect financial behavior by the inclusion of recent studies. In addition to the empirical research that is based on European countries, we discuss the differences in different geographies and finance schemes. We also debate the potential factors that affect differing behavioral aspects with respect to religiosity.

Keywords: religiosity; Islamic banks; conventional banks; bank risk; Bank (search for similar items in EconPapers)
JEL-codes: G23 G28 O52 (search for similar items in EconPapers)
Date: 2020-05
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Published in IDE Discussion Paper = IDE Discussion Paper, No. 787. 2020-05

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https://ir.ide.go.jp/record/51750/files/IDP000787_001.pdf First version, 2020 (application/pdf)

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Journal Article: Behavioural Aspects of Religiosity in Finance: A Brief Survey on Conventional Versus Islamic Finance (2022)
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