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The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets

This study employs sample t-tests and panel pooled OLS regression to investigate the impact of COVID-19 pandemic on Islamic versus conventional stock markets returns. The study uses daily data from 15 countries over the period of September 01, 2019–April 30, 2020, which covers two main periods and o...

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Autores principales: Nomran, Naji Mansour, Haron, Razali
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8423836/
http://dx.doi.org/10.1186/s43093-021-00078-5
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author Nomran, Naji Mansour
Haron, Razali
author_facet Nomran, Naji Mansour
Haron, Razali
author_sort Nomran, Naji Mansour
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description This study employs sample t-tests and panel pooled OLS regression to investigate the impact of COVID-19 pandemic on Islamic versus conventional stock markets returns. The study uses daily data from 15 countries over the period of September 01, 2019–April 30, 2020, which covers two main periods and over four sub-periods. Findings reveal that the returns of Islamic indices begun to be positive instead of negative by mid-April 2020, while returns of conventional ones remain negative throughout the periods. Furthermore, the results suggest a negative and statistically significant impact of COVID-19 on the performance of both stock indices. Nevertheless, this impact is weak on the Islamic indices and strong on the conventional ones. Overall, the findings indicate that Islamic stock markets perform better before and during COVID-19 than the conventional ones, and the adverse impact of the pandemic on the stock markets is relatively lesser for the Islamic indices.
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spelling pubmed-84238362021-09-08 The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets Nomran, Naji Mansour Haron, Razali Futur Bus J Research This study employs sample t-tests and panel pooled OLS regression to investigate the impact of COVID-19 pandemic on Islamic versus conventional stock markets returns. The study uses daily data from 15 countries over the period of September 01, 2019–April 30, 2020, which covers two main periods and over four sub-periods. Findings reveal that the returns of Islamic indices begun to be positive instead of negative by mid-April 2020, while returns of conventional ones remain negative throughout the periods. Furthermore, the results suggest a negative and statistically significant impact of COVID-19 on the performance of both stock indices. Nevertheless, this impact is weak on the Islamic indices and strong on the conventional ones. Overall, the findings indicate that Islamic stock markets perform better before and during COVID-19 than the conventional ones, and the adverse impact of the pandemic on the stock markets is relatively lesser for the Islamic indices. Springer Berlin Heidelberg 2021-09-08 2021 /pmc/articles/PMC8423836/ http://dx.doi.org/10.1186/s43093-021-00078-5 Text en © The Author(s) 2021 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Research
Nomran, Naji Mansour
Haron, Razali
The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title_full The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title_fullStr The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title_full_unstemmed The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title_short The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets
title_sort impact of covid-19 pandemic on islamic versus conventional stock markets: international evidence from financial markets
topic Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8423836/
http://dx.doi.org/10.1186/s43093-021-00078-5
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