Performance Evaluation of Islamic and Non-Islamic Equity and Bonds Indices: Evidence from selected Emerging and Developed Countries

Marc Audi, Azhar Sadiq and Amjad Ali

MPRA Paper from University Library of Munich, Germany

Abstract: This article has examined the differences in performance between the Islamic and conventional stocks and bond indices in the developed and emerging countries. The sample period is consisted of 2007 to 2018 in equity, whereas the period of debt is from 2014 to 2018. Different risk-adjusted return measurements have been applied to investigate that Islamic stock indices' performance is better than conventional indices. The results show that the Islamic equity indices have better performance than the traditional indices in financial crisis. The individual sample concludes that Islamic equity indices of Germany and the UK perform better than traditional indices, but in the USA conventional indices perform better. The performance of Shariah equity indices in all selected emerging countries is better than the traditional equity indices. This shows that Islamic indices are highly demanded throughout the world as an alternative to traditional indices.

Keywords: Financial Crisis; Risk-Adjusted Measures; Shariah Screening Process (search for similar items in EconPapers)
JEL-codes: B26 G2 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-isf
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (58)

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