کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5084905 | 1477920 | 2014 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Revisiting fast profit investor sentiment and stock returns during Ramadan
ترجمه فارسی عنوان
بازخوانی احساسات سرمایه گذار سریع و بازده سهام در ماه رمضان
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
Using stochastic dominance (SD) approach, this paper revisits the Ramadan effect in the stock returns of 15 Muslim countries and altogether as a portfolio. Our study is motivated by the preferred statistical attributes of SD analysis. Specifically, SD requires no normal distribution of returns assumption and it imposes few restrictions on investors' risk-return tradeoff preference. Our results indicate that the Ramadan effect exists in most of Muslim countries used in the study during the sub-periods 1996-2000 and 2001-2006 and in the portfolio during the sub-period 1995-2007. However, its magnitude diminishes during the global financial crisis period (2007-2012). The findings of this paper indicate that previous results are not an artifact deriving from violations of distributional assumptions. We conclude that risk-averse investors would benefit from increased utility by switching from non-Ramadan to Ramadan.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Financial Analysis - Volume 33, May 2014, Pages 158-170
Journal: International Review of Financial Analysis - Volume 33, May 2014, Pages 158-170
نویسندگان
Osamah Al-Khazali,